Trade view /
13 February 2018 at 7:20 GMT
Swiss consumer prices fell 0.1% in January, in line with expectations, with the year-on-year rate at 0.7% from 0.8% previously, maintaining expectations of a very loose National Bank monetary policy.
The currency was hampered by a decline in defensive demand as a recovery in global equity markets was sustained during the day.
Trading within a Bearish Channel formation.
We have a 61.8% Fibonacci pullback level of 1.1566 from 1.1449 to 1.1639.
Bespoke resistance is located at 1.1568.
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1.1568, resulting in improved risk/reward.
EURCHF daily chart
Management and risk description
Please note all our intraday trade ideas are closed at 9pm UK (US market close) if they have not reached target or stop
Intraday – We look to sell at 1.1565
1.1495 and 1.1465
— Edited by Clare MacCarthy
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