On the 25th October USD/CHF almost touched parity but ultimatley failed and fell away 500 pips.
We feel that with conditions moving into overbought, there is a high probability that we may see the BEARS enter the market in sufficient numbers to drive the price down should we hit parity this week.
The area 30 pips around parity is heavy with resistance coming in from pivot and historical resistance plus the psychological parity.
We are setting SELL STOPS at just above parity at 1.0010 with a 30 pip STOP.
We feel that with conditions moving into overbought, there is a high probability that we may see the BEARS enter the market in sufficient numbers to drive the price down should we hit parity this week.
The area 30 pips around parity is heavy with resistance coming in from pivot and historical resistance plus the psychological parity.
We are setting SELL STOPS at just above parity at 1.0010 with a 30 pip STOP.
