British pound’s dramatic ascent through 200-Day EMA and key resistance levels indicate a trend shift, with potential pullbacks seen as prime opportunities for traders eyeing FOMO-driven trades amid Swiss franc’s broader market challenges.
(Click on image to enlarge) underneath will offer quite a bit of , and therefore I think that this is an indicator that a lot of people will be very cognizant of. Now that we have sliced through that market leading indicator, I think that the trend is starting to change. For what it is worth, the Swiss franc seems to be in trouble across the board in general. Swiss National BankThe SNB of course is notorious for being dovish, and therefore I think you need to pay close attention to the idea that perhaps the Swiss franc will be eviscerated. It is worth noting seen that the Swiss franc had been historically strong, and therefore I think a lot of traders will continue to look at this through the prism of whether or not they can take advantage of “cheap pounds”, or any other currency for that matter as we have seen all of the same action across the board.Ultimately, I am looking for an opportunity to get long of this market, because unfortunately I did miss the move early in the day, but I do think that sooner or later that will appear. I would be especially interested in the British pound at 1.11 CHF, which would be a bargain after this move. On the other hand, if we do end up breaking above the 1.12 level, I may have to simply swallow my pride and start buying there. If I were to do that, I would obviously have to be very cautious with the position sizing, because volatility is something that this pair is known for, and of course something that I think will show up sooner rather than later after this type of move.More By This Author:SP 500 Forecast: Plunges After Consumer Price Index SurpriseSilver Forecast: Plunges After Surprise CPI Reading In America Silver Forecast: Continues To Trade In A Range
