EUR/CHF – Starting the Week Right
Skerdian Meta • 1 min read
Last week was not a good week for us. The market kept going against logic and we had some technical problems which prevented us from issuing some profitable forex signals on EUR/CHF when this forex pair was trading near the 1.07 support level.
It dipped to that level about four times last week which would have given us quite a few pips, but let´s forget the past and see ahead of us. The EUR/CHF signal we opened early last week hit the take profit target this morning, so we got our green pips from it.
Now the price is sliding again and you know what that means, another good opportunity to buy this forex pair against this very important support level. As we said a couple of weeks ago, this pair has turned into a real cash cow at these levels because the SNB is protecting it from EUR/CHF sellers, so we´ll try to milk it as much as we can.
There is that possibility that the SNB (Swiss National Bank) gives up like they did in January 2015 when they crashed the forex market. But I don´t think we´ll see a move anywhere close to the size of that one. It might be similar to the break of 1.08 level, because the SNB had been spotted buying up there, too. But even if it does, we will pick the next level to keep milking this pair, probably round 1.06 or 1.05.