PROredart is not PRO trader 
Currently still maintain baerish outlook for USDCHF. As we note that there’s reversal patterns formed in daily and H4 (especially a break-out from H1 channel trendline), I would be expecting more bears to joinhttp://cdncache-a.akamaihd.net/items...rrow-10x10.png in the crowd.
Most importantly would be the decision on Thursday by the ECB. Currently we know that the Euro is currently being priced in with market expectation of rate cut to negative deposit move. It’s a matter of how much the ECB is gonna do when it comes on Thursday. More than expected, can expect that the Euro to drop further than 1.3600 level.
With that in mind, it can be expected that, most traders will take a short position in EURCHF & EURJPY, i.e. strengthen CHF and YEN, something that we would want to have in this pair.
Of course, not to mention the Euro has always been anti-dollar, so, we have to watch out if the SNB policy maker views on the EURCHF, that 1.2000 as the base line.
Here's my technical analysis: http://alternateforexiew.wordpress.com/2014/06/02/hsbc-flash-pmi-on-tues-ecbs-decision-on-thursday-nfp-on-friday-what-to-expect/
Cheers
Most importantly would be the decision on Thursday by the ECB. Currently we know that the Euro is currently being priced in with market expectation of rate cut to negative deposit move. It’s a matter of how much the ECB is gonna do when it comes on Thursday. More than expected, can expect that the Euro to drop further than 1.3600 level.
With that in mind, it can be expected that, most traders will take a short position in EURCHF & EURJPY, i.e. strengthen CHF and YEN, something that we would want to have in this pair.
Of course, not to mention the Euro has always been anti-dollar, so, we have to watch out if the SNB policy maker views on the EURCHF, that 1.2000 as the base line.
Here's my technical analysis: http://alternateforexiew.wordpress.com/2014/06/02/hsbc-flash-pmi-on-tues-ecbs-decision-on-thursday-nfp-on-friday-what-to-expect/
Cheers
Knowledge is powerful tool that we can ever have.
- #3,991
- Jun 2, 2014 5:53am Jun 2, 2014 5:53am
Currently still maintain baerish outlook for USDCHF. As we note that there’s reversal patterns formed in daily and H4 (especially a break-out from H1 channel trendline), I would be expecting more bears to join{image} in the crowd. Most importantly would be the decision on Thursday by the ECB. Currently we know that the Euro is currently being priced in with market expectation of rate cut to negative deposit...
And btw i,m amazed to see the sudden bull after British Manufacturing PMI quite unexpected 
Heed the lessons of failure.
- #3,992
- Jun 2, 2014 5:59am Jun 2, 2014 5:59am
- Joined Jun 2013 | Status: Poor Man | 1,085 Posts
The good thing with the future is that it is progressively approaching...
- #3,993
- Jun 2, 2014 12:16pm Jun 2, 2014 12:16pm
- Joined Aug 2013 | Status: Trader | 4,895 Posts
Pride always comes before destruction.... -Proverbs 16:18
- #3,994
- Jun 2, 2014 12:24pm Jun 2, 2014 12:24pm
I'm [email protected], I have a first target of .8941....I think this may be a bit conservative but time will tell I suppose( I should say I'm in this short term) although I can see flows happening into the swissy after ecb decision, I'll be watching this one and adjusting accordingly. I would also add that I do want to exit this before NFP, I haven't had the best results trading that day
