While all the attention of the participants of the foreign exchange market is focused on the Trump’s trade wars and the results of the G-7 meeting (which is already beginning to be called 6 + 1 because of the split among the participants), the political problems of Italy (the populist government is formed and its activity does not bode well) and Spain (corruption...
ENTRY SETUP: 1.17317// SL: 1.17087// 1.1769
Bullish trend Broke trend line, and still consolidating I would prefer to enter from 1.14 Trade with care Good luck!
From the previous two trading session, the Swiss Franc 0.39% descended strongly against its major Forex currencies. An acquaintance of mine has told me that although no news of it was there, it seems that the SNB (Swiss National Bank) has intervened with the Swiss. When I started stock and forex trading, I've already heard rumors and sayings that the Swiss Franc...
Our preference: position bought above 1.0865 with targets at 1.0900 & 1.0910 in extension. Alternative scenario: in break of 1,0865, a continuation of the decrease will be envisageable with 1,0850 & 1,0835 in line of sight. Comment: The RSI militates for a rebound.
We can see the EURCHF is nearing a major support level and if we look at the 1W + 1M charts, we can see sellers are slowly diminishing and momentum is changing in favour of buyers, however we may see this manage a leg lower before price can move up. A conservative entry would be to wait for a break of the downtrend line, whilst staying above the uptrend line and...