EUR crosses/Others/Technical Analysis/Trade Ideas

EUR/CHF: Longs re-instated at 61.8% retracement

I’ve had a very good run with this pair in recent times and I’m hoping it continues. My patience has been rewarded with a good technical re-entry level at 1.2275 (see chart in members) and now its a matter of waiting to see how the market develops. I’m guessing that there will be plenty of stop-loss sell orders somewhere tight below 1.2250, so I may reduce if EUR/JPY starts collapsing and drags EUR/CHF with it.

  1. Sean, After meditating over your talk about CHF, I decided to try CHF/JPY short. In short yen is oversold, CHF is expensive, sounds like a reasonable trade. If we assume that yen correction has started do you have any feel on the depth of retracement? My initial goal is around 98.

  2. Will see. I feel comfy with this one that means there will be shakeout. But if it plays it could be awsome entry to chf/usd. I am playing it through usd legs. If jpy/usd will get down to 88-90 i will drop it and will try to ride chf/usd… Theory looks good, will see what the market would present us …

  3. Action of last 24 hours made sure that Mona Lisa smile stays way above all lowly cornflake boxes)))) 200pips in the face is somewhat harsh, but at the end of the day I was expecting shakeup. CHF is reigning supreme against JPY…. Having some doubts now….

  4. The JPY has caught me out a few times as well Kirill which is why I’ve been sticking to the less volatile USD/CHF, EUR/CHF and EUR/GBP. I think we are all pretty sure that this Yen move sill eventually stop dead in its tracks and the crosses will play catch up (CHF/JPY back to 92/93ish ??) but the swings are a killer as I well know. I wish I could say with some degree of certainty that we wont see 105 in CHFJPY but I cant. Break higher in USD/JPY leg is a worry?

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