The Trader Advantage: Ahead Of The Swiss Rate Decision - Mar 10 10 20:54 EST
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The Trader Advantage: Ahead Of The Swiss Rate Decision
Excerpts taken from The Trader Advantage Program
Swissy:
Intraday 25 pip Swing Point moves are Long above 1.0715 and Short below 1.0675. Momentum is volatile. Main Sup and Res areas: 1.0950 and 1.0450. Daily price action is Long, into a Neutral trend (buy the dip), and a tight trading channel.
The overall trend changes to Short if 1.0600 is taken out. Chf Fundamentals are Weak. Previous 8 hour session range 65 pips. Weekly range 135 pips. Opened below the Neutral Swing Point with an initial Short bias.
Best moves after 3am EST. Daily range is 115 pips. RSI is Neutral. SMA is @ 1.0790. 12-month -93% correlation to S&P and Oil moves. Look to a long Eur/Chf play.
TheLFB Charting: Usd/Chf 4 Hour View
4 Hour Chart Flows: Mixed. Price Points: 1.0648, and 1.0897 Looking for: Triangle structure
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Momentum: The pair's trend went long on 3rd December, and is showing no real inclination to want to easily move away from that direction.
Elliott Wave: No change on Swissy. The black sub-wave C leg, which is part of a red wave D) leg, is still developing and should reach the 1.0830 zone in the near-term. If this follows through, another push lower, into a final leg of a triangle, wave E) should be seen before a triangle pattern can be completed
Once a triangle is confirmed, a powerful up-trend should follow on Usd/Chf, which should be headed towards the 1.1000 zone.
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