The USD/CHF pair had a range bound session on Wednesday as traders waited for the all-important EU summit to end. The deal didn’t come, but there are
The USD/CHF pair had a range bound session on Wednesday as traders waited for the all-important EU summit to end. The deal didn’t come, but there are rumors floating around, and rumors are exactly what the market has been trading on for some time now. The set up is easy now: Trading a break in either direction is the way to go for a doji. However, the Swiss National Bank is trying to sell off the Franc in order to keep its value down. The pair is only able to be bought, so we want to buy on a break to the upside, and a break to the downside has us waiting for supportive action in this “buy only” market.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.