In terms of investment considerations, UBS has Changed its stance from its previous guidance of a 0.95-1.0 range for EUR/CHF. The firm now sees the currency pair grinding lower, with resistance expected in the 0.96-0.97 range and support near 0.92.
However, if growth in Switzerland weakens more than anticipated, or if the SNB signals its discontent with CHF strength and takes action to weaken it, the EUR/CHF could potentially remain around 0.94-0.97...
In the bigger picture, medium term corrective pattern from 0.9407 (2022 low) might have completed with three waves to 0.9928. Decisive break of 0.9252 (2023 low) will confirm long term down trend resumption.
On the upside, however, break of 0.9497 minor resistance will turn bias back to the upside for 0.9579, 0.9720 resistance instead.
Buying on dip within a range of 100 pips is advised for the target of 0.97 and 0.99....Good Luck
However, if growth in Switzerland weakens more than anticipated, or if the SNB signals its discontent with CHF strength and takes action to weaken it, the EUR/CHF could potentially remain around 0.94-0.97...
In the bigger picture, medium term corrective pattern from 0.9407 (2022 low) might have completed with three waves to 0.9928. Decisive break of 0.9252 (2023 low) will confirm long term down trend resumption.
On the upside, however, break of 0.9497 minor resistance will turn bias back to the upside for 0.9579, 0.9720 resistance instead.
Buying on dip within a range of 100 pips is advised for the target of 0.97 and 0.99....Good Luck
Note
trade running in 50 plus pips…. 0.96-0.97 target. while usdjpy running in 240 plus pips ….Follow me for accurate signals and analysis…
Trade closed manually
80 Pips made
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.