EURCHF - Intraday - We look to Sell at 1.0049 (stop at 1.0072)
The weaker Euro has boosted performance. There is no clear indication that the downward move is coming to an end. Preferred trade is to sell into rallies. Previous support at 1.0050 now becomes resistance.
Our profit targets will be 0.9992 and 0.9982
Resistance: 1.0020 / 1.0050 / 1.0080
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The euro-Swiss is implying a switch in long-term trend to bullish after crossing above its 200 DMA
I posted about the EUR/CHF breakout beyond its down-sloping trend line earlier (linked below)
Hi Traders, here is my analysis on EURCHF buys. This is based on the consensus for ECB today (in 36 mins of time of writing), which will create a short spike down for potential longs (if goes as planned). Combining this with the technicals, we can see 2 levels that are yet to be filled, on the weekly fib, and a daily fib. Of course, if news comes out the other...
Long EURCHF - 9/10 Conviction:
1. Having watched the 1.08 level closely post-brexit it certainly looks as if there is some FX intervention going on at the 1.08 handle - suspicions enforced even more as SNB President Jordan has said in the past that FX intervention is on the cards should CHF move even higher when we were around this level previously.
2. Ive...
