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Technicals

EUR/CHF - Euro Swiss Franc, European Session - 25/07/08

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24 July 2008 @ 09:57 pm EST
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1,6232. EUR CHF broke 1,6255 support. The volatility is high. Bollinger bands are parallel and form the trend. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR CHF. The downtrend should continue on 1,6160 (70 pips) support.
=> We could take a short position at 1,6235. We will put the stop loss above 1,6260 (-25 pips). The targets are 1,6190 (+45 pips) 1,6160 (+75 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 1.
Resistances
1,6260 - 1,6290
Supports
1,6230 - 1,6190

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