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EUR CHF Daily Chart

Profile photo of Nuno Lampreia – Forex.Today by Nuno Lampreia – Forex.Today
2016-01-14_00-35-52eurchf

2016-01-14_00-35-52eurchf

The eurchf continues to trade in a range. There might be two strategies to consider.

First we might wait for an outbreak of the upper range, a retest of the area and initiate a long position.

Secondly we might see if price stays below the upper boundary, prints a reversal candle and go short with a stop loss over the upper boundary.

The previous trade idea for this pair was to take a long position from the lower boundary.

If you took the trade then I would suggest to place your stop at breakeven or better and wait for tomorrows candle.

If the outbreak occurs and the blue 200 MA starts to rise then you might be for quite some while in the trade.

If not then you might as well take your profits at the upper range.

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