Long EUR/CHF @1.2830
This market has also come under some intense pressure on Tuesday with the latest sharp drop resulting in heavily oversold hourly studies and a market that has already met its daily average true range. However, with medium-term studies looking more constructive and showing the formation of a potential major base by record lows at 1.2400 from late 2010, we like the idea of buying into this dip from 1.3200 in anticipation of a higher platform somewhere in the mid-1.2700’s to lower 1.2800’s. POSITION: LONG @1.2830 FOR AN OPEN OBJECTIVE; REVISED STOP 1.2830.
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