Looking to Buy EUR/CHF
We don’t usually incorporate fundamentals into our trade ideas but it is hard to ignore the very well publicized SNB 1.2000 floor on the cross and ability for the market to remain so well supported ahead of the barrier. Still, the market is technically in the process of carving a major bottom on the longer-term chart, and we continue to project additional upside from here. Favorable yield differentials also don’t hurt and we look for a test of the 1.2000 barrier or break back above 1.2100 to establish a fresh long-position. Ultimately, only a daily close below 1.1900 would negate.
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