EUR/CHF is shrugging off European worries to join its USD/CHF brother on the dollar gravy train.
We’re up into the nosebleed highs of 1.21 and looking for a close above the big figure.
USD/JPY is the dollar trade that just doesn’t care and has broken above the July 2012 resistance line
USD/CHF Weekly chart 03 10 2014
We may face resistance against the 0.9750 level, being the July 2013 high, but the way it’s looking the move shows no signs of slowing.
Further out we have the two highs along the 2012 line and then the double top from Nov & Dec 2010, and a far out potential target up at the Feb 2006 resistance at 1.0254, which is being wrapped around by the 100 mma at 1.0227
The wait for a big lift off in EUR/CHF continues and when it comes it’s going to hit like a Five Finger Death Punch
That’s me done for the week folks and a good one it’s been too. Hope you’ve all smashed it to bits this week and I’ll see you on the other side.
