In all hub bub of the majors it’s easy to forget about the Swissy. EUR/CHF is moving like USD/JPY used to, i.e slow and zombie like. That doesn’t mean that there is not opportunity within. Certainly sterling and the dollar have some decent ranges but the EUR/CHF has been moving nicely between tech levels. Like the rest of the world I’m a buyer. I’m long at 1.2187 and 1.2139. I’ve done it on a buy-and-forget basis but maybe I should have paid more attention to it.
On the Daily chart the last two months have seen the pair range between the 200 ma and the 100 ma. In the current movements we’re looking to have another look at the 100 ma at 1.2223. The 55 ma is slowly moving down and may well contain any break of the 100. It’s at 1.2240. I’m going to take a short at 1.2220 and add to it at 1.2235 with a stop at 1.2255 and T/P at 1.2145.
And so on to USD/CHF. Another swiss pair looking to top out at an ma, the 200 H4ma at 0.9414 and low and behold the high for the day is 0.9414.9. Should we break then the 61.8 fib level from the Mar/Apr hi/lo at 0.9428 will be the next target. Below we have the broken 100 ma which could limit losses around the 0.9350/55 area. Further down is the short term trendline at 0.9330 which has undepinned the market twice now.
