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2 Feb 2015
EUR/CHF might see 1.0650 levels – Growth Aces
FXStreet (Barcelona) - The Growth Aces Research Team, maintain a bullish outlook on EUR/CHF and USD/CHF and share the trade setup for the pairs.
Key Quotes
“The Swiss PMI fell to a seasonally adjusted 48.2 points in January from 53.6 points in the previous month, below market consensus of 50.4 points. It is worth noting that the reading has only slightly reflected the influence of the SNB decision made on January 15. The full influence will be seen in the coming months and we should expect much lower PMI levels then.”
“A Swiss newspaper, citing sources close to the bank, reported that the Swiss National Bank is unofficially targeting an exchange rate of 1.05-1.10 CHF per EUR. A spokesman for the central bank declined to comment on the story.”
“The amount of cash commercial banks hold with the Swiss National Bank rose last week to CHF 383.325 bn from CHF 365.486 bn the previous week despite introducing negative interest rates on sight deposits by the SNB.”
“We keep our EUR/CHF and USD/CHF longs.”
“EUR/CHF trading strategy: long at 1.0160, target 1.0650, stop-loss 1.0400”
“USD/CHF trading strategy: long at 0.9160, target 0.9400, stop-loss 0.9200”
Key Quotes
“The Swiss PMI fell to a seasonally adjusted 48.2 points in January from 53.6 points in the previous month, below market consensus of 50.4 points. It is worth noting that the reading has only slightly reflected the influence of the SNB decision made on January 15. The full influence will be seen in the coming months and we should expect much lower PMI levels then.”
“A Swiss newspaper, citing sources close to the bank, reported that the Swiss National Bank is unofficially targeting an exchange rate of 1.05-1.10 CHF per EUR. A spokesman for the central bank declined to comment on the story.”
“The amount of cash commercial banks hold with the Swiss National Bank rose last week to CHF 383.325 bn from CHF 365.486 bn the previous week despite introducing negative interest rates on sight deposits by the SNB.”
“We keep our EUR/CHF and USD/CHF longs.”
“EUR/CHF trading strategy: long at 1.0160, target 1.0650, stop-loss 1.0400”
“USD/CHF trading strategy: long at 0.9160, target 0.9400, stop-loss 0.9200”