Forex Technical Analysis

Forex Technical Analysis : Intraday moves are so big that our once-a-day price-fixing (at 5-6 am ET) is at risk of failing to represent sentiment. Today’s charts show the US dollar exchange rate falling except against the Australian Dollar and Canadian Exchange Rate and the Mexican peso futures. Is that accurate? Time will tell. We can write two equally plausible scenarios in which the US dollar rises on flight-to-safety (“the devil you know” argument) or falls on a cold-eyed assessment of looming US recession and ongoing financial market turmoil.

Under these circumstances, we imagine the one clear winner would be the Swiss franc, somewhat isolated from both Europe and the US, and yet the USD to CHF has risen steadily from the spike low yesterday at 1.0811 to 1.1028 so far today. It’s only on the 5 am prices that we see a Swiss franc exchange rate bounce upward. So which is right? We picked the 5 am price as the most representative twenty years ago, so we will stick with it.

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Barbara Rockefeller - Forex Trading Reports