Monitoring EURUSD 1.1662-76 and USDCHF 0.9917-33
- EURUSD tried and failed twice to break under 1.1575 when it had the chance on dovish Draghi, weaker German number .We’re now looking at the H&S resistance, the 100 ma on H4 and a fib in this zone as well. There’s a chance we breaks the market is not impressed with the GOP Tax Plan, which should see some run for the exit on technical shorts and a quick move to 1.1750 can be expected.I reckon1.1620/30(a few ma’s there) will hold it for the day. I bought smalls in the 1.1640s, looking to add a bit 1.1625/20 , abandon under 1.1610.
- USDCHF failed above 1.0025-45 on a couple attempts. Remember it was my target zone lat week.Now we’re on a decent support level here as per attached chart.The incessant EURCHF buying has also waned which puts us rather sideways in a 1.1540-1.1625 range. I haven’t got the position yet, but a break under 0.9915 will trigger a short term short for a look at 0.9865.
- The levels on both EURUSD and USDCHF coincide , which should make a break relatively powerful imo if it occurs.
- And if nothing of like occurs dear ladies and gentlemen, the range will get stronger and we can start our XMAS shopping early I reckon.But we’re traders so stay positive something will happen.