I'm starting this thread for traders considering the Swiss Franc (CHF). I'm a swing trader and can observe great abilities in the CHF across other currencies. It seems to be the lesser of the evils given current market conditions.
Reasons in support of this CHF:
1 - Safe Haven
2 - Economy not doing too bad (in comparison to EU, UK and USA)
3 - Risk Aversion and Carry Trade (stock markets dont look too great)
Attached weekly/daily charts of USD/CHF and GBP/CHF.
USD/CHF - Clearly long term (per week) trends are down and on the dailies the price action has seemingly created a channel between 38.2 and 61.8% fib levels. In the previous week - even some perceived good news (or not so bad financial results) in the US hasn't managed to decicively violate any major resistance at 252 or even 300 - So I am thinking Short.
GBP/CHF - Pretty much the same as above - a lot more convincing as UK economy is going downhill faster than believed, albeit this pair has gone down too fast - but if you look at the monthly charts, it's room to go considerably further. The dailies indie a kind of traingle forming and I hope it might bounce off resistance at 50 percent fib in 2.0583 or earlier (trend line) - Thinking short again.
Would really appreciate input from fellow traders.