Thanksgiving came and went. Instead of my goofy friends, my ex-wife and son came over for dinner, so it was rather quiet affair. I'm such a lousy cook, it's really shocking anybody would even brave my kitchen. I guess there are still some desperado's left in the world...
We updated our website. You can see it here
http://www.spectrumforex.com/weeklycomments/11252007.html
I have been looking, or rather waiting, for moves to the upside in USD-CHF. It had been very long wait. All week price has been steadily moving south, with no sign of reversal. Until Thanksgiving evening that is. There was a sharp and fast move to the downside, which looked a lot like an exhaustion. I decided to go long there.
This trade was also included in our services. At these lower levels of valuations, USD-CHF is not really the best trading vehicle. Average daily ranges are not very large and a lot of other crosses represent better opportunities. Unless, of course, we are really in the neighborhood of some important market turning point, in which case volatility should increase dramatically. We will see over next week or two.
I took a look at my posts from a year ago on these pages. Funny thing, I had also been trading USD-CHF on Thanksgiving night...
Here is one more trade in CHF. This one was entered at the same time as previous one, only in GBP-CHF.
Target has not been reached here, so I exited on the close. Regardless, all CHF crosses seem to point to some more weakness ahead. Perhaps not in a straight line, but selling CHF on breakouts might not be a bad idea here...
Husar
