EURCHF - LONG

2021年10月22日

EURCHF looking very cheap from this point. Bank forecasts price this currency pair at 1.08 by the end of this month (Very optimistic, but I think that we could see it going to 1.08 in the first half of November). Euro implied volatility for 1 month expiry options against the dollar are still on the minus side (Puts more expensive than Calls), but we saw a very important change of direction this week, meaning we could see a much stronger Euro on the coming weeks. CFTC Eur Speculative Net Positions give an advantage for the dollar, but last week's Euro shorts were fewer in comparison to the week before. On the technical side of things, we can see a bullish expanding triangle indicanting a change of direction for this pair with a divergence on the RSI. SL below a key important support level (1.06600). TP on the last high for conservative's sake. FX:EURCHF