Our free forex signals service today looks at the EUR/CHF pair and we have the entry, stop and take profits levels for you.
The aggressive monetary expansion of the European Central Bank led to the fact that in 2020 alone, it bought up almost the entire volume of bond issues of the currency block. Its market share increased to 42%. The ECB will not allow debt yields to rise as fast as its American counterpart. This convinces traders to be on the bearish side, but a bullish breakout is still expected.
The price continues to slide down unobtrusively. The lows have been updated again, but the situation as a whole has not changed in any way. As before, the price remains within the possible development of the converging horizontal triangle. To do this, buyers need to make an effort, giving a certain impetus to the beginning of the formation of a new up wave.
While this is not the case, it is definitely not worth entering into buy deals at current prices. It is better to open deals in this situation after the impulsive rise and subsequent rollback.
Today, there are no important fundamental statistics at all, so traders will continue to sit on the fence and reflect on how the European Central Bank will behave tomorrow and what statements will be made by President Christine Lagarde. This meeting is very important from the point of view of the reassessment of the approach to monetary policy by the European Central Bank. Therefore, only tomorrow, large volatility of the pair is expected.
EUR/CHF free forex signals
Instrument: EUR/CHF
Order: BUY STOP
Entry price: 1.0868
Stop Loss: 1.0815
TP1: 1.0922
Recommended Risk: 1%
Risk / Reward Ratio: 1:1
Signal validity period: Good until cancelled
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Saqib Iqbal
