EUR/CHF Is Spoiling Us


Another pop today in the forex world, this time in the crosses. You guessed it; it´s EUR/CHF. The 1.07 support level has gone but the milk cow remains. 

We took a hit when that level was broken, but have got a few more playing the bottom side of it. Sometimes a forex trader might avoid getting caught on the wrong side when such a massive support level finally gives way, but it´s quite difficult if you want to keep trading and try to take advantage from every attempt.

Anyway, we have pocketed a few short term signals in this forex pair since the break of 1.07. We´ve been buying around 1.0635-40, which has now turned into support and selling near the previous support, which has now turned into resistance.

1.07, here we come again. 

Yesterday we opened a buy forex signal down there and it hit TP just a while ago. Actually, this looks like an SNB intervention move. 

We don´t care where it came from, though, as long as we get our pips. Now we´re approaching that support-turned-resistance level again so I´m watching it closely. Well, you guys will get the signal alert when the price is right. 

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.

Related Articles

Comments

0 0 votes
Article Rating
Subscribe
Notify of
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

HFM

Doo Prime

XM

Best Forex Brokers