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Old 04-16-2009, 10:10 AM
DailyFx's Avatar
FX Analyst
FX-Men Honorary Member
  

Join Date: Jan 2007
Posts: 16,888
Default 04.16.09
My picks: Stay Long GBP/CHF
Expertise: Fundamentals and Technicals
Average Time Frame of Trades: 2 - 10 Days






The GBP/CHF surged to a two-month high this week and broke above my target at 1.7042, the 2/23 high, and I will remain long against the pair as investors speculate that the Swiss National Bank will continue to intervene in the currency market as the central bank attempts to stem the risks for deflation. As a result, I expect the pound-franc to retrace the sell-off from February, and have moved my target to 1.7489, the 2/10 high. Accordingly, I have moved my stop up to 1.6640, the 100-Day moving average.

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