We Never Say No to Freebies – EUR/CHF

Posted Monday, January 16, 2017 by
Skerdian Meta • 2 min read

EUR/AUD is playing games today; it missed the take profit target for our sell forex signal in this pair by a mere pip. The price is still below the 50 moving average, which we highlighted in the first market update today and the EUR/AUD signal is about 10 pips in profit, so we´re still on the attacking side here.

However, another trading opportunity arose a few moments ago in another pair. Yes, you guessed right. It´s been the love of our life in the recent months and, of course, it´s the one and only EUR/CHF. 

This forex cross pair has been trading near the top of the range in the last couple of days around 1.0740. I´ve been watching and waiting for it to slip lower and it finally did about an hour ago. 

Forget the big green bullish candlestick at midnight, it´s a gift from my forex broker. 

We know the SNB (Swiss National Bank) is waiting in the shadows to buy this pair around here. It´s been doing it for months now since the 1.08 support level let go. 

So we decided to buy this pair once again today and I´m pretty confident we will get our reward from it. We´re already in profit as the price started to climb higher. It doesn´t look like an intervention from the SNB, but forex traders know the SNB is watching closely and EUR/CHF sellers know their limits.

Profit taking, reverse trading, or just buyers buying at a support level; whatever the reason, we´re happy to grab any free pips in the market. So, let´s sit it out until we reach our target.   


Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Related Articles
0 0 vote
Article Rating
Notify of
Inline Feedbacks
View all comments