On June 16th, SNB Surprises with first interest-rate hike in 15 years due to which market reacted with bullish CHF sentiments.
SNB also started selling foreign currencies by CHF Buybacks which also contributed to recent spikes in Swiss Franc Valuation.
However, repurchasing of CHF is advantageous for the balance sheet but if the CHF doesn't gain strength then it could also lose even more value.
Technical Analysis,
1.) Oversold and Overbought ratios (CHF Correction is expected due to recent reactionary bullish spike)
2.) All targets are set in accordance with Fibonacci sequence
3.) Head and Shoulder
Conclusion: Short position on CHFJPY, Long EURCHF and CADCHF
DISCLAIMER
---------------
This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is distributed with the understanding that this information shall not be construed as an investment advise or endorsing any methodology. The cases included in the report are not an endorsement of the people, products, or firms mentioned in the cases; investment product returns are unpredictable.
SNB also started selling foreign currencies by CHF Buybacks which also contributed to recent spikes in Swiss Franc Valuation.
However, repurchasing of CHF is advantageous for the balance sheet but if the CHF doesn't gain strength then it could also lose even more value.
Technical Analysis,
1.) Oversold and Overbought ratios (CHF Correction is expected due to recent reactionary bullish spike)
2.) All targets are set in accordance with Fibonacci sequence
3.) Head and Shoulder
Conclusion: Short position on CHFJPY, Long EURCHF and CADCHF
DISCLAIMER
---------------
This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is distributed with the understanding that this information shall not be construed as an investment advise or endorsing any methodology. The cases included in the report are not an endorsement of the people, products, or firms mentioned in the cases; investment product returns are unpredictable.