The central pivot point, before it swooned

Remembering that the Swissy (USD/CHF) is still technically in a downtrend, I viewed the rise into today’s session with suspicion. Sure enough, we experienced negative divergence on MACD to price, just after the London open. That was followed by Tom DeMark trendline analysis, and a subsequent Joe Cheung price projection, that saw price tumbling to 2200 – and there it went, just like magic folks!

The pair was in a sell area – above the central pivot point, before it swooned. Now you see why I focus on the London open. It consistently offers up good trading opps., and is easy to trade, if you know how to look for a confluence of events.

For complete analysis, watch the AM Video Review.

-Peter R. Bain