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.