I am not sure if any of you look at EUR/CHF but having worked London and NY for many years it is a fave of mine and is behaving nicely at the moment so i thought i would start the day off with a EUR/CHF piece.
After breaking the base of the dominant channel back in mid Feb, the EUR/CHF has looked like heading lower, with lower highs, a lot of pressure on the 1.4750 level and the moving averages all saying “down, down, deeper and down” as Status Quo would so eloquantly put it. Finally we have taken out the 1.4700 level and the risk is now that we consolidate below 1.4700 and head lower to at least test 1.4520 which is the low from early Nov 08.
Lower any stops on shorts to above 1.4750 and leave a tp at 1.4555.
