EUR/CHF – A Great Buying Spot


Yesterday we had two winning forex signals in EUR/CHF, which we opened near the bottom of the recent range in this forex pair, but that´s not all. We also had three winning EUR/CHF signals last week, so that makes it five signals in total in this pair and around 100 pip in profit in the last 6-7 trading days. We have quite enjoyed these EUR/CHF signals, haven´t we? 

Since the price in this forex pair broke below 1.08, which has been the bottom of a 200 pip trading range, a new range has formed and it has been very tight. Since Monday last week, this pair has traded between the 1.07 and 1.0740-50. It has dipped twice to 1.0685, but 1.07 has been the bottom, give or take 10-15 pips either side. 

All of our recent forex signals here have been buy signals, obviously, but why do you think that is? 

Well, I was watching the price action in this pair earlier this week when I saw it jumping around 50 pips, which might have seemed strange to some. I knew that the SNB (Swiss National Bank) was intervening in the forex market by buying the Euro against the CHF. Right then, I decided to buy this pair around the 1.07 level as a short-term trading strategy, since the SNB had established a new bottom where they were willing to fight the market back.

Can you spot the times the SNB intervened? 

The intervention area used to be around the 1.08 level until a couple of weeks ago, but with the CHF getting a strongly bid after Trump´s win, the price has slipped further down so a new intervention level is here. The problems with such slow pairs is that you must master your patience, because it takes hours for them to move 20-30 pips and days to reach to your preferred buying/selling spot. 

We started to open buy forex signal here around the 1.07 level, but have been increasing it higher as the SNB takes the intervention price higher. We´re sticking to this forex strategy, hoping that the SNB will cover our backs for as long as it takes for us to make $1 million. We already had five winning signals here so we´re half way there, we need another 5,000 to reach our goal. Just hang around until then.  

ABOUT THE AUTHOR See More
Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.

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