DislikedAny thoughts on how far down this retracement will go? I see some fibs around the 0.9600 level.
Also on the mind, Eur/Usd is projected to reach the 1.37-1.38 level, if this is true, this move in the Usd/Chf would be short lived and the bearish trend would resume.
Any thoughts?Ignored
This is why EURUSD is going down and USDCHF is going down suggestive of strong CHF.
Everytime there is DEBT RELIEF, EUR strengthens (long EURUSD) and CHF weakens (long USDCHF).
This is how it is right now.
CHF and JPY are "Risk Currencies". If sentiments is for RISK TAKING, then CHF, JPY will both depreciate. If sentiments is for RISK AVERSION, then these currencies will appreciate. Right now, market is in RISK AVERSE mode since the financial meltdown. If the Employment and Housing Market in USA recovers, expect these two to depreciate hard.
CAD, AUD are commodities currencies which are driven by OIL, GOLD, METAL. I personally dont consider NZD a commodity currency; it just behaves much like AUD due to the proximity of them two.