The ensuing upward move was obviously to be short-lived.

The USD/CHF pair is still my favorite, given the attitude of the Big Dogs (read, COT negative - positive in the futures world). If you look at all timeframes for this pair, the trend is DOWN (referencing MACD).

Accordingly, an oscillator like Stochastics (STO) is a good tool to use to peg good short opps. - one being the Hong/Sing open last night. What we witnessed at the London open today was nothing more than a counter-trend retracement, which is worth taking, if you know what you are doing. Price put the brakes on just past M2 - the expected low for the day. The ensuing upward move was obviously to be short-lived.

For complete analysis, watch the AM Video Review

-Peter R. Bain