June Swiss franc – The Swiss franc is beginning to exhibit a show of strength on speculation that the central bank will begin relaxing a year-old policy of selling the currency to curb its strength. The market has formed a bullish reaction swing with a retest of the 20-day SMA on Monday. This is a potentially bullish “setup” with a trigger price at .9527. A confirmation of this reaction swing could also mark the end of the longer-term A-B-C continuation pattern and the beginning of a new bullish leg. Check the latest issue of the Traders Market Views Swing Trading report for current recommendations.
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