EURCHF trading journal

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    Senior Member HundEr's Avatar
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    Default EURCHF trading journal

    EURCHF trading journal


    The EURCHF confirmed a positive closing last night while remaining however still interior the positive outside day with 1,0555 ? 1,0410 the levels still to follow in the coming hours. While above 1,0410 on a daily closing the scenery will remain positive.

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    Overall the cross is still interior the positive outside day with 1,0555 – 1,0410 the levels still to follow in the coming hours. While above 1,0410 on a daily closing the scenery will remain positive.

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    Key support is viewed as 1.0305/1.0280 – the base of the channel and recent low.

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    Key support is viewed as 1.0308/1.0280 – the base of the channel and recent low.

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    The EUR/CHF pair went back and forth during the course of the session on Wednesday, testing the 1.05 level above as resistance. With that, it appears of the market is going to struggle just above, but quite frankly I don’t really have a signal to start selling either.

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    It is looking increasingly likely that EURCHF is going to maintain this break of the 2015 downtrend. The market is probing the 1.0574 June high and looks set to head to the top of the 3 month channel at 1.0622.

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    I believe that this market should then go to the next significant high, which was at the 1.08 handle. After that, I have the 1.10 level which of course was a significant high previously, and of course is a nice large, round, psychologically significant number, which of course central banks love.

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    Keep in mind that the Swiss National Bank has been working against the value of the Swiss franc recently, and was “outed” when its latest financial statements came out. When the Swiss intervened in the currency markets in the typically is in the EUR/CHF pair, so you can consider this to be “Ground Zero” of that particular move. With this, I think that the markets will continue to go higher but we also recognize that they won’t necessarily move in a straight line higher.

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    The EUR/CHF pair broke higher initially during the course of the week, clearing the 1.06 level. With that being the case, the market found resistance though, and as a result we formed a shooting star.

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    in ro ham eslah kon:


    The Euro is getting a bit of a bid in general, and that of course will be exacerbated by the Swiss National Bank in this particular pair. With that, we are buyers of this pair above the 1.08 level, and at that point in time we think it would only be a matter time before he reach towards the 1.20 level.

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