The EUR/CHF pair has been difficult to deal with until recently. After all, we have been bouncing around in a fairly tight range for most of the summer, so unless you are a short-term trader, this has been a very difficult way to go going forward. With that being the case, we have been relegated to small moves, and essentially have been on the sidelines when it comes to this pair for the most part.
However, recently we have found out that the Swiss National Bank has been intervening in this market yet again. By supporting this pair, it was only a matter of time before we broke out. We had been bouncing around between the 1.03 and the 1.05 level roughly, with perhaps a bit of a “zone” all the way to the 1.06 handle. Now that we have cleared that level, we feel that this market is free to continue going higher.
With this move, we are looking to buy pullbacks as the Euro should be well supported out the 1.06 level against the Swiss franc. Now that we have of this benchmark from which to trade, we are looking at short-term pullbacks as opportunities to take advantage of what is an obvious breakout. We believe that this market should then go to the next significant high, which was at the 1.08 handle. After that, we have the 1.10 level which of course was a significant high previously, and of course is a nice large, round, psychologically significant number, which of course central banks love.
We have no interest in selling this market, at least not until we break down below the 1.05 handle. This would not only break below where we think the support would start, but where it should end. After all, this was the same “zone” that had kept the market down in the first place. With the Swiss getting involved in this market, unless of course the Euro falls apart drastically, we feel that this is going to be one of the “safest” longs of that you will be involved in.
The EUR/CHF pair has been difficult to deal with until recently. After all, we have been bouncing around in a fairly tight range for most of the summer, so unless you are a short-term trader, this has been a very difficult way to go going forward. With that being the case, we have been relegated to small moves, and essentially have been on the sidelines when it comes to this pair for the most part.However, recently we have found out that the Swiss National Bank has been intervening in this market yet again. By supporting this pair, it was only a matter of time before we broke out. We had been bouncing around between the 1.03 and the 1.05 level roughly, with perhaps a bit of a “zone” all the way to the 1.06 handle. Now that we have cleared that level, we feel that this market is free to continue going higher.With this move, we are looking to buy pullbacks as the Euro should be well supported out the 1.06 level against the Swiss franc. Now that we have of this benchmark from which to trade, we are looking at short-term pullbacks as opportunities to take advantage of what is an obvious breakout. We believe that this market should then go to the next significant high, which was at the 1.08 handle. After that, we have the 1.10 level which of course was a significant high previously, and of course is a nice large, round, psychologically significant number, which of course central banks love.เราไม่สนใจในการขายตลาดนี้ ไม่น้อยจนเราทำลายลงด้านล่างจัดการ 1.05 ได้ นี้จะไม่เท่าแบ่งด้านล่างที่เราคิดว่า การสนับสนุนจะเริ่มต้น แต่ที่ควรจบ หลังจากที่ทุก นี้เป็นเหมือน "โซน" ที่มีเก็บไว้อยู่ลงในสถานที่แรก กับสวิสได้รับเกี่ยวข้องในตลาด เว้นแต่ของหลักสูตรยูโรตกกันอย่างรวดเร็ว เรารู้สึกว่า นี้เป็นไปได้หนึ่ง longs "ปลอดภัย" ที่ คุณจะมีส่วนร่วมในการ
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