For those USD/CHF bulls who’ve been looking for a buying opportunity, there seems to be a nice risk-reward play developing.
Last week we saw some major spikes higher in pairs like EUR/CHF and GBP/CHF and the question is whether these moves were simple relief rallies or part of some possible reversal. USD/CHF has a recent low at .9200 and there is talk of decent bids still around that level. (That said there will probably also be plenty of stops below .9190 as well).
Therefore, if you’re bearish on the CHF in the short-term or if you look for contrarian trades, buying dips in USD/CHF with tight stops below .9180 looks like a good risk-reward strategy.
