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CHF Trade Signals

---- Entry Stop Target Target 2

Buy 1.2175 1.2165 1.2195 1.2200

Buy 1.2205 1.2185 1.2215 1.2230

Sell 1.2185 1.2200 1.2175 1.2160

* Optimal weighting for first target is 80%. When Target price is achieved set remainder with a stop at break even. Trailing stops can improve the performance of this strategy as well.

CHF Commentary - Short-term funds and leveraged players eyed a return and re-test of the 1.2200 area early in the session today. 1.2193 printed on some cross trading flows. However, talk of quasi- official accounts selling into the highs helped limit speculative buying. The upbeat KoF forecasts (07 GDP forecast at 2.4% & 08 at 2.5% from 1.5%) then impacted to underpin the CHF and help the price consolidate the push higher. The retracement of [EUR/CHF] back to 1.6291 forced the cross higher but only 1.6284 was hit before the KoF release helped stall the upward momentum. Option sellers are tipped into the 1.6290"s and these offers could trail back to 1.6300. US Pending Home Sales numbers, for February, are set for release into American trading, and many dealers now see this release as the key short-term risk to the USD. Economists have opted for a small dip as their consensus for the 14:00 GMT release. Elsewhere, US Employment data, due Friday, continues to loom but worries over a sub-90K headline persist to leave the dollarlooking edgy into fresh highs.