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Cable · 11-12-2003, 09:38

Bearprofits, interesting post from Wallace - I've never thought of that correlation. In my opinion the Swiss generally moves in the opposite manner to Euro. Todays "reversal" was at a fib extension line. A while ago James (of Teamforex) started a thread about volatility and aayat1 posted some numbers with regard to avearge daily ranges for various pairs. These were

USDCHF 162pips
EURUSD 115
GBPUSD 129
USDJPY 106
USDCAD 125
AUDUSD 78

The swiss had already made about 140 pips so the danger of a reversal was increased. On the daily chart the price had hit the 10 day EMA - a value that is watched by the bigger players.

I have found in the past that watching the Swiss chart does help in trading Euro (and vice versa) sometimes one is cleaner than the other.

As far as Fibs vs. Pivots, Sup & Res levels - everything helps !

Good Luck

11-12-2003, 09:38	#3 (permalink)
Cable level 1 Join Date: Oct 2002 Posts: 66 Rep Power: 0	Mirror image ? Bearprofits, interesting post from Wallace - I've never thought of that correlation. In my opinion the Swiss generally moves in the opposite manner to Euro. Todays "reversal" was at a fib extension line. A while ago James (of Teamforex) started a thread about volatility and aayat1 posted some numbers with regard to avearge daily ranges for various pairs. These were USDCHF 162pips EURUSD 115 GBPUSD 129 USDJPY 106 USDCAD 125 AUDUSD 78 The swiss had already made about 140 pips so the danger of a reversal was increased. On the daily chart the price had hit the 10 day EMA - a value that is watched by the bigger players. I have found in the past that watching the Swiss chart does help in trading Euro (and vice versa) sometimes one is cleaner than the other. As far as Fibs vs. Pivots, Sup & Res levels - everything helps ! Good Luck