We got a break of the previous swing low 108630 and we are looking to short the EURCHF on the bearish momentum forming on the 15m chart. The idea here is safe heaven buying from the bad CB Consumer Confidence that came out of the US today. We saw strong buying of the CHF, JPY currencies.
Entry: 108630 Stop Loss: 108825 Target: 108163
On the brake of the 108492, I will be looking to trail my stop to Break Even. The first target comes in at 108374 which is where I will take off half the position. The risk on the account is 1%.