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US Dollar Retracement Gets Underway | CHF, NZD
Needs less to say, the USD had a terrible December in line with its seasonal tendency. Yet prices are undergoing a much-needed correction after such a volatile move. The question now becomes as to whether it will provide bears another entry point at a higher-prices, or can it perform a complete reversal? Given the Fed continue to inflate their balance sheet, we suspect dollar gains are merely corrective at this stage. USD/CHF: A bearish engulfing month was confirmed for the Swissy, although our forward returns analysis showed the following month has a positive expectancy. Yet the gains were not compelling, and it ... (full story)