This pair tends to track money flowing from trouble in the EU to the relative safety of Switzerland. This is a choppy pair in general, as one economy has such an influence on the other in this scenario. The markets will look a bit tight, but I cannot help that perhaps there could be a bit of buying by the SNB.
Risk 0.5%
Trade to be taken in European hours if possible.
Long Trade 1:
Buy the EUR/CHF pair at 1.0665
Stop loss at 1.0640
Take profit at 1.0675
Today’s EUR/CHF Analysis:
The pair continues to look for footing, and I think we are finding it near the 1.0640-ish level. The market looks set for a bounce, and I think the relative quiet of the Friday session could be the right environment to do just this. I have no interest in selling currently – there seems to be a ‘buy on the dips’ mentality in this market.
There are no economic announcements that concern me with this pair today.
