Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
In an article published in early October, named, “FxWirePro: Franc likely to weaken past parity against dollar”, available at http://www.econotimes.com/FxWirePro-Franc-likely-to-weaken-past-parity-against-dollar-928875 , we forecasted a bearish franc against the dollar. We noted, “One must also take note of the EUR/CHF pair which has finally started the breaking the ceiling with franc depreciating materially against the euro, reaching the weakest level since the SNB removed its 1.2 floor in January 2015. We expect the euro to depreciate in the short term and that is likely to add pressure on the franc which enjoys a very high correlation with the single currency.
We expect the USD/CHF, which is currently trading at 0.971 to depreciate and first test parity and then weaken beyond it towards 1.02.”
As of today, the franc has reached our initial forecasted target and is currently testing the parity against the dollar. In this article, we would once again urge our readers to maintain short position targeting 1.02 area. The selling momentum might even push franc towards 1.025.
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