General Analysis Since the end of December the EUR/CHF currency pair went into a sideways movement and from that moment it did not leave the corridor 1.0760-1.0680, but was not able to be fixed below it. At the moment the price again is approaching the level of 1.0680 for the fourth time in the last two months; there is every probability to expect the next rebound from this level. We expect the price is going to reach 1.0680 and form a rebound from it to the top. However, intraday traders have the opportunity to play short and make a profit on sells by entering the market and placing orders with T/P at 1.0700. Nevertheless, trading against the general movement is quite risky. We recommend that you trade within a day only if you are an experienced trader and are well aware if the risks. To use this approach you should be able to quickly determine the entry point to the market.
The schedule of the Stochastic indicator shows a clear sell signal. The signal line of the indicator is in the neutral zone, however, both lines are directed downwards and creating a downward trend. The Next Few Days We recommend opening buy orders after the rebound of the prices from the support level 1.0680. In order confirm the signal it is necessary to wait for a few daily candles to close above the level at the approach to it. The immediate goal to fix the profit will be the level 1.0745. While trading for a fall to 1.0680 support we recommend opening average lots in the 1-2% of the deposit and placing S/L and T/P orders at a ratio of 1 to 2. At a penetration level of the price support at 1.0680 and fixing prices below it, there is a possibility of another scenario. The price might continue to decline - then we need to be guided by at least the height of the channel in 90 points and the support 1.0630.
