Investors viewed Swiss Franc as safe haven without sign of diminishing Sentiments. With current Strong Fundamentals supported by excellent FISCAL Balance Sheet, It may head toward its Parity vs Dollars without the Intervention from SNB( Swiss National Bank ) near term, as highlighted by my last week's posting on CHF.
Looking at the H1, a mild Recovery may be in place toward the 1.0704( 38.2% Fibo Retr),. with the next resistance located near 1.0780.( Note:the Ichimoku cloud top is near 1.0725), before resuming its current descending Bearish Journey to the south.
However, if the PA (price Action) Breaks 1.0850 . being its previous Resistance, then it will be confirmed that this Currency pair has riped for A Strong Reversal and will rally toward 1.0900 and beyond. But it will be very remote for this possibility to happen( A reversal back to 1.0900 and beyond).
Strategy
SELL on mild Recovery near 1.0750--1.0780 (using All your Indicators to confirm Entry)
SL ====60 PIPS
First Target: 1.0600
Second Target: 1.0000 (NOTE: please do not over trade)
Note: Make sure that your Trailing Stops is in place , to maximize your profits in case of SNB's INTERVENTION is being executed.
HI CHART
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