Thursday 31 October 2013

USDCHF and NZDCHF Updates ~ Both Longs in Money Currently

Not too much time to write here, I am long on both of these currency pairs, from more than a week ago on USDCHF - which has been under water till this morning, and my NZDCHF which dipped yesterday uncomfortably below 0.74 but moved back up since the FOMC meeting. I am holding both for higher prices, but I have to accept the possibility that the market does not agree with me. In the next few hours I am looking for USDCHF (on the left) to violate the downward trendline from the September 2013 highs. and for NZDCHF to clear the 0.75 handle. My most immediate concern right now is the October NFP report which comes out on Friday November 8th where USDCHF (wherever it is) may take a monstrous hit because the NFP is not looking good from where I am standing.

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