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SWISS FRANC / EURO

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CHFEUR trade ideas

The franc recovered its lost ground, sending EURCHF lowerThe Swiss National Bank's departing Chairman, Thomas Jordan, believes that a weaker Swiss franc could affect inflation. His remarks led to the franc gaining strength and the EUR/CHF exchange rate dropping. The SNB was the first major central bank to cut interest rates in March, causing the franc to depreciate. However, this depreciation halted in May with the emergence of an evening star pattern. Currently, the EUR/CHF pair is biased towards a decline and has broken below the 50-day simple moving average (SMA). The next points of interest are the channel support, followed by 0.9694 and the 200 SMA at 0.9565.
by Xayah_trading
EUR/CHF continue with the DowntrendOn EUR/CHF , it's nice to see a strong sell-off from the price of 0.98600. It's also encouraging to observe a strong volume area where a lot of contracts are accumulated. I believe that sellers from this area will defend their short positions. When the price returns to this area, strong sellers will push the market down again. The downtrend combined with the strong volume area along with the strong S/R area from the past are my main reasons for this short trade. Happy trading, Dale
by Trader_Dale
EUR/CHF may fall 30 - 50 pipsPivot 0.9800 Our preference Short positions below 0.9800 with targets at 0.9750 & 0.9730 in extension. Alternative scenario Above 0.9800 look for further upside with 0.9830 & 0.9860 as targets. Comment As long as the resistance at 0.9800 is not surpassed, the risk of the break below 0.9750 remains high. Supports and resistances 0.9860 0.9830 0.9800 0.9780 Last 0.9750 0.9730 0.9700 Number of asterisks represents the strength of support and resistance levels.
Short
by Daniel_Thompson
EUR/CHF Trade Setup: Strategic Short Position Entry: Sell at 0.9912 - Rationale: This level aligns with the 61.8% Fibonacci retracement, a key resistance point suggesting a potential reversal. Stop Loss: 0.9932 - Rationale: Positioned above the resistance level to protect against upside risk. Take Profit: 0.9882 - Rationale: Targeting the support level where we expect the price to find buying interest. Market Context: - The current trend is bullish, but a potential turnaround is possible as indicated on the daily timeframe. - The 61.8% Fibonacci retracement level at 0.9912 is a significant resistance point. Strategy: - Monitor the price action for confirmation of a reversal at the 0.9912 level. - Enter the trade with a clear stop loss at 0.9932 and take profit at 0.9882. Good luck with your trades!
Short
by Eleazarahmath
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