Kumowizard
Long

EURCHF - If there is global risk on, why not to sell CHF?

FX:EURCHF   Euro Fx/Swiss Franc
147 3 1
If there is such a global risk-on mood, CHF should weaken.

Daily: First of all there is the floor set by SNB at 1,2000. They announced a couple of times they have no intention to release it any time soon. Anyway, if you look at both daily and 4 Hrs charts, it is clear that "someone" always keeeps it bid at 1,2050-55 since the end of August 2014.
There is a massive positive divergence in MACD , also Slow Stoch is up.
Ichimoku is still bearish , but a Kumo, Kijun Sen and bearish trendline retest to 1,2100+ level is really possible. In case Price breaks through 1,2100 it will have the chance for further bullish extension, but for now we can not be sure about this.
The carry for holding the position is flat (maybe slight positive), and you can place a stop either below 1,2049 or ultimately to/below the floor at 1,2000.

4 Hrs: Seems like a breakout finally from the tightenning triangle consolidation zone, with DMI             also turning bullish . On next spike it can attack 100 WMA and a very thin Kumo. You can already start to buy it on small dips below 1,2060 but the real entry signal would be a break and close above 1,2067. Risk/reward with a stop at 1,2049 will come as 1:2

p.s.: please note that recent candles are very small, the ATR is extremely low. This means that in fact EURCHF             has not been moving at all, te             price is for choice 1,2060 +/-. In case you put on a position, you have to consider this lack of volatility. Such a low ATR (less volatility) allows you to add a much larger notional position when you open it.
PainKillerRO
2 years ago
Hmm, better buy USDCHF
Reply
AlexLarryb
2 years ago
I like
Reply
CHF is rock solid ag EUR at 1,2050-55, not moving anywhere. 4 Hrs Kumo is getting thinner. Still waiting for the break... who knows, maybe this week a "non event" ECB will bring positive EUR flows, at least Mr. Nowotny warned ytday that mkt should not expect a miracle for each and every ECB meetingm and that further QE should not happen this year.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out