We all tend to watch fast-moving markets closely and quiet ones not closely enough.
A quiet market to watch at the moment is USD/CHF. It’s gone sideways for three days in a row — something akin to a triple-doji.
It all comes after a big drop on the Fed decision. It pushed the downside shortly after the open today and tried the upside in US trading but is back to unchanged on the day.
With a pattern like this, you can’t be sure of what direction it will go but be confident that when it picks a direction, it will go more than 100 pips.
USDCHF daily
With EUR/CHF poised to close below the 200-day moving average, my guess is that all the Swissy crosses are headed lower.
