08 Jan Quick Note For Potential EUR:USD, USD:CHF And GBP:CHF Swing Trades.
It’s getting late, so just a very quick post to keep you updated with a couple of potential swings I’m watching.
EUR:USD should find major support in the 1.3000 level. The level is probably heavy with stop losses, so a spike lower could be a a great swing long entry.
0.9182 on USD:CHF is an interesting level on the Daily chart with horizontal support combined with 20 MA support. Could be worth longs from there, with stops in the 0.9150 region.
GBP:CHF, probably the most risky of all three, also has some interesting attributes. I’ve taken a long position at 1.4837 on the basis that 1.4821 (just 16 pips away) should be an area of support on the Daily chart whilst there’s Multiple MA support on the 4 hourly time frame,. As I said, I’m not too convinced about the prospects of this trade, but with an entry opportunity so close to the stop loss level I’ve decided to give it a go. I will monitor intraday and stop out if I’m not happy with the progress of the position. Otherwise, if it plays out, there are numerous upside targets which I will explain in a more detailed analysis tomorrow.