Eurchfstrategy
Intraday Sell EURCHF, Range Trading SystemTrade no.1003
Order Type: Market Execution Sell
Sell at 1.1202
SL at 1.1228
TP near 1.1175 or 23 pips++
What say you, Swiss Franc? (1)From the previous two trading session, the Swiss Franc 0.39% descended strongly against its major Forex currencies. An acquaintance of mine has told me that although no news of it was there, it seems that the SNB (Swiss National Bank) has intervened with the Swiss.
When I started stock and forex trading, I've already heard rumors and sayings that the Swiss Franc 0.39% is a 'controlled currency.'
Several Swiss Franc pairs have reached several resistance/support; after two days of intense decline on the currency, I'm expecting some pullback where it may give a better entry position to be able to enjoy the ride!
EURCHFOur preference: sales position below 1.1045 with targets at 1,1015 & 1,0990 in extension.
Alternative scenario: in excess of 1,1045, aim for a continuation of the rise with 1,1060 & 1,1075 in line of sight.
Comment: the slip under the 1,1045 constitutes a negative signal which opened the way to 1,1015.
