Others/Technical Analysis

EUR/CHF: Looking to re-load on dips

After selling near 1.2500 I am now looking for dip-buying opportunities to re-instate my long position. Volatility will remain high and I have a feeling that many traders missed the boat on this pair and ended up buying on the 1.24 or even 1.25 handle and their risk tolerance may be tested in coming days. The sharp fall from Friday’s 1.2565 highs stopped initially at the 38.2% Fibo level near 1.2385 (see short-term techs in members section). There will be stops placed below there for sure and could lead to a deeper retracement. Patience required and be prepared to trade sharp swings.

  1. In brief, and despite continued CB buying, I expect a move lower first as speccy EUR/Gold positions unwind. Maybe trigger long-term trailing stops below 1500 in USD terms. Give us bugs a chance to buy at better levels 🙂

Leave a Reply

Your email address will not be published. Required fields are marked *