Action Insight Weekly Report 11-24-18
Dollar Higher but Trump-Xi Meeting is a Wild Card | Action Insight Weekly Report 11-17-18 | | Dollar Higher but Trump-Xi Meeting is a Wild Card |  It's another week with multiple theme happening at the same time. Swiss Franc ended as the strongest on risk aversion. Oil's free fall could be that extra lift the the Franc. Dollar ended as the second strongest, but that's mainly due to relatively smaller problems in the US. Sterling was the third strongest after UK and EU agreed on the political declaration on future relationship. On the hand, Australian and Zealand Dollar were the weakest ones on risk aversion. Aussie was additionally pressured by the decline in iron ore prices. Euro was the third weakest one on deteriorating growth outlook. Canadian Dollar follow oil prices lower. | USD/CHF Weekly Outlook USD/CHF dropped to as low as 0.9908 last week but drew support from 38.2% retracement of 0.9541 to 1.0128 at 0.9904 and recovered. Initial bias is neutral this week first. On the upside, break of 1.0006 minor support will argue that the pull back from 1.0128 has completed. Intraday bias will be turned back to the upside for retesting 1.1028. However, on the downside, break of 0.9904 will target 0.9848 key support level. |  | | | |
