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The key level to watch on EUR/CHF!
By Sean Hyman | July 23, 2009
Be sure to watch the 1.5220 region of resistance. Once this is cleared (and it won’t be long), then we’ll likely start the next “up leg” of the uptrend. Click on the chart to enlarge it.
The improvement in the global economy recently will only help this carry trade pair. Recent buying in the EUR/USD is also helping the euro rise overall as the dollar tanks. This has a “spillover effect” onto EUR/CHF as the Swiss sell their francs and the euro generally rises.
Look for more EUR/CHF gains over the coming days/weeks.
If you haven’t gotten in on this trade yet, it’s not too late. Get your account open today so that you can take advantage of the move! See yesterday’s post for the link to the live account application.
Sean Hyman
www.forextradingblog.com
Tags: account, blog, carry trade, CHF, dollar, economy, EUR, Euro, forex, forextrading, franc, Hyman, live, Sean, Sean Hyman, Swiss, trend, uptrend, USD
Topics: What To Look At In The Market |
August 5th, 2009 at 11:57 pm
Yes, I agree. With your comment.