My picks: Buying Dips in EURCHF
Expertise: Fundamentals Combined With Technicals
Average Time Frame of Trades: 1 Day - 1 Week
EURCHF remains range bound, as price continues to trade within a falling channel formation with support at 1.5115 and resistance at 1.5200. I'm looking to continue buying at support as long as it holds and am avoiding selling EURCHF at all costs as the Swiss National Bank has made it known that they plan on continuing their physical intervention in the markets to prevent an appreciation of CHF against EUR.
Meanwhile, I've closed out my short GBPCHF position as 1.75 offers pretty solid support, and I closed out my short EURJPY position yesterday after price hit the 200 SMA. That said, I'm still looking to sell rallies in GBPJPY and EURJPY (currently short GBPJPY from 150.26).
