USDCHF - super ranging market, no long term direction at all, trading between 0.87 and 1.03 for ages...always seems to be drawn back to around parity.
Right now is trading in a bullish channel of around 400 pips and is almost at the top of it, can drop around 200 pips before going back up if it doesn't break through. If it breaks, it can be heading to parity.
It's about 50 pips from breaking the channel.
Two plays here, sell with a 80-90 pip stop and looking for a take profit of about 200 - 250 pips. The other is buy with a 300 pip stop with a take profit of around 500 pips.
Can play them both out at the same time if you are feeling feisty, sell now and put at SL with the order to buy if it breaks.
If you want to play it safe, then wait for the retracement of around 200 (or at least 100-150) and buy then.
CHF has always been a safe haven and it seems heavy action is starting in Donbass now. On the other hand, they have not been so safe for Russian citizens this time around, the world has changed and not sure how much people (who are not European or American) trust Switzerland anymore. With the start of the war and EU being hit quite hard because of their own sanctions, with Switzerland following suit in most of them, money has been flowing out of Europe and into the US.
So for us it's a buy, we expect loads of news to start coming out of Donbass very soon, which should drive the dollar higher.
Right now is trading in a bullish channel of around 400 pips and is almost at the top of it, can drop around 200 pips before going back up if it doesn't break through. If it breaks, it can be heading to parity.
It's about 50 pips from breaking the channel.
Two plays here, sell with a 80-90 pip stop and looking for a take profit of about 200 - 250 pips. The other is buy with a 300 pip stop with a take profit of around 500 pips.
Can play them both out at the same time if you are feeling feisty, sell now and put at SL with the order to buy if it breaks.
If you want to play it safe, then wait for the retracement of around 200 (or at least 100-150) and buy then.
CHF has always been a safe haven and it seems heavy action is starting in Donbass now. On the other hand, they have not been so safe for Russian citizens this time around, the world has changed and not sure how much people (who are not European or American) trust Switzerland anymore. With the start of the war and EU being hit quite hard because of their own sanctions, with Switzerland following suit in most of them, money has been flowing out of Europe and into the US.
So for us it's a buy, we expect loads of news to start coming out of Donbass very soon, which should drive the dollar higher.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.