EURCHF—dismal

EURCHF is near its low of 1.4000 (currently offered at 1.4008 as of 8:39 AM EST). The big question is now that it's back to its May 6th low whether the Swiss National Bank will intervene. A long here with a tight stop is a possible trade with a small position. However it must be a tight stop because there is no nearby support. Safer might be to sell on a small bounce. But you'll still need tight stops. Resistance is at 1.4065, 1.4117, 1.4188, 1.4334, and 1.4466.

Here's the monthly chart showing just how dismal this pair is:










© Dianne Fecteau, 2010. No part of this material may be reproduced in any form, or referred to in any other publication, without the express written permission of the author.

My purpose in writing this blog is to show you how one trader, me, makes trading decisions and survives while trading Forex. One of the biggest problems I had when I first started trading was trying to apply the “rules” to actual trades. Another was the psychology—limiting losses and letting profits run. If you study my blog, you’ll see how I deal with both those issues. So my writings are not trade recommendations but rather educational in purpose. You have to decide on your own approach to trading. Remember that trading is risky.