On March 26, 2024, I wrote a Daily called, “Last Night I Had a Crazy Dream-Swiss Franc”
In the blog, I mentioned that,
“I literally woke up to the words “Swiss francs.”
So here I was at 4 am, checking the charts of Swiss Francs, both in the futures market and then with the ETF FXF in multiple timeframes.”
With research I read this, “The Swiss Franc has a reputation for being a safe haven or hard currency; it is often purchased during financial uncertainty due to its reliability and stability. Regularly used as a global reserve currency, the Swiss Franc is the sixth most traded currency in the world.”
So here we are nearly 3 months later, and the Swiss Franc is trading at levels not seen since mid-March.
We sat through some pain.
But I never gave up as this is not the first time I awoke to hear my brain saying a trading symbol literally out of nowhere.
The ETF FXF chart shows Real Motion inclining in momentum.
The Leadership indicator shows FXF outperforming SPY.
And the price stopped right at the 200-DMA.
So that makes it clear.
FXF had a fabulous run since last week,
Now, the high made today at 100.08 needs to clear.
Then we can easily see 103-104 next.
Remember though, this is currency and a slow-moving one.
My dream is for the patient.
Twitter: @marketminute
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author and do not represent the views or opinions of any other person or entity.
