I like to look at currency ETF's to look for any clues into the FX market. I am looking at UUP which is the Bullish USD Index and FXF which is the Swiss Franc Trust.
UUP is losing momentum and remains stagnate in bearish territory. FXF is gaining momentum and looks to be gaining momentum upwards with no immediate near term obstacles to push it back. This is interesting because USDCHF is stuck with a pretty wide well defined range. If UUP and FXF continue their momentums, then this means USDCHF will go lower breaking a few very important support levels. If this does happen, I can only imagine a landslide to the .87256 level or perhaps to .91700 near term goal.
UUP is losing momentum and remains stagnate in bearish territory. FXF is gaining momentum and looks to be gaining momentum upwards with no immediate near term obstacles to push it back. This is interesting because USDCHF is stuck with a pretty wide well defined range. If UUP and FXF continue their momentums, then this means USDCHF will go lower breaking a few very important support levels. If this does happen, I can only imagine a landslide to the .87256 level or perhaps to .91700 near term goal.