Others/Trade Ideas

USD/CHF: Buy dips for test of 1.00 in coming weeks

This pair could be the big mover in coming weeks if the USD can catch a bid tone. EUR/CHF seems destined for further gains and many are presuming that most of the gains will come via a higher EUR/USD, but what if the EUR/USD stays range-bound between 1.30/1.36 and the cross breaks above 1.30? Then we will have USD/CHF trading above parity again, and this is the scenario I favour.

I’m looking to get more aggressively long on any dip towards .9250.

  1. Good evening Sean,

    Friday, we failed at 1.3397 and then i booked some profits ahead of the weekend. Do you think it was a bad idea ? The support has been hold at 1.3255.

  2. Hi Papillon. Really not 100% sure at moment, waiting for some more clarity. EUR/JPY will be choppy ahead of BOJ and s/t mkt is probably now long of EUR/CHF so I think its best to simply watch n wait and see if an opportunity presents itself

  3. this is exactly what i’m thinking. more i think more i get bullish on this pair. Looks like a safe bet. but you know these are the trades that costs badly if you are proven wrong 😉

  4. Couldn’t agree more Ulas, these are the types of trades where I’ve been hurt badly in the past 🙁 Can’t visualise it falling under any circumstances and then it collapses on top of me.

  5. Sean,

    This morning, I have reached on EUR/USD 1.3480 (technicals resistances at this level weekly high + Fibio 50% 1.4940-1.2040), we might consolidate for few days and moreover we have re-started the buy dips on EUR/CHF . In this backdrop, what do you think with USD/CHF ? I am tempted to buy it ?

  6. Really like this trade Papillon. Unsure on timing but i think it will eventually go back above 1.00, probably in next few months. But timing is everything. If you can buy small and hold?

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