Friday, June 27, 2008

Foreign Currencies Are Looking Bullish



It has been awhile since I posted a chart of the Swiss Franc so here it is for your viewing pleasure. Above is a weekly chart of the Swiss along with the stochastic oscillator. Notice how oversold readings coincided with profitable buy signals.

If you look at the last 6 stochastic buy signals all were profitable but one. So based on this time period the stochastic oscillator has been 83% accurate during this recent uptrend which I think is pretty good.

Right now the stochastics are on another buy signal and in my opinion I think we'll see new highs for the Swiss Franc and Euro.

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