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EUR/CHF technicals and options trade setup

FX:EURCHF   Euro Fx/Swiss Franc
65 0 5
EUR/CHF bull swings creep up in snail’s pace above SMAs but sideway trend remains intact – debit call spreads to mitigate directional risks:

On weekly plotting, despite the last couple of weeks’ upswings, we traced out a sharp gravestone doji pattern at 1.0931 levels testing resistance at this juncture from last three weeks that evidences the weakness again in this pair.

On the flip side, we could now see the attempts of spikes pushing above 21SMA but drifting in narrow range trend.

On weekly and monthly plotting, although the brief upswings but the trend has been pretty well in the range that has lasted almost for 1 year, so these upswings are struggling even though bulls managed to break out above resistance at 21SMA.

While weekly MACD signals this prolonged range.

But for now, the moment when it occurs “Gravestone Doji” pattern we raise the caution for intermediary bulls to remain cautious 1.0931 levels because that’s where we’ve been seeing the failure swings in the recent past.

The current price has been quite on monthly with tepid momentum and this has been evident RSI on monthly which is currently trending steady, while stochastic has been indecisive.

Option trading recommendations:

Since the 1W ATM IVs of EURCHF             is still below 5% (4.25% to be precise), those who wish to carry trades on delivery basis can also deploy below option strategy.

Initiated long in 3D ATM -0.51 delta call option, and simultaneously short 3D (1%) OTM call with preferably positive theta or closer zero.
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