USDCHF: at no ones land
If you are like me and like to trade based on the long term charts, then you already know the USDCHF is non tradable, at least until it breaks the medium term range. Please take a look at the next chart:
Since late May, the USDCHF entered in this undefined range, where I find very difficult to determine feasible turning points or those major swings. I would rather risk my capital on other pairs where the market condition is clearer.
In the beginning of August the USDCHF tried to break the bottom of the range, but it traded just there, in a short term range and then after the NFP announcement the USD recovered back to no ones land…
So, I will wait for the USDCHF to break the medium term range before I start looking for trade opportunities in the Swiss franc.