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CHF Trade Signals

---- Entry Stop Target Target 2

* 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 -The pair broke out of an uneventful European range early in New York trading yesterday, retracing from near 1.2125 back to the 2200 area. Clearly, the employment data out of the benchmark nation was the primary catalyst for the move, and heavy hedge fund selling amid slightly thinner than usual markets ahead of the long Easter weekend. EUR/CHF initially fell with USD/CHF with dealers noting covering of short CHF position on some of the crosses but the franc soon weakened versus the extremely well-bid EUR, reaching 1.6315 during the afternoon, just pips below key 1.6320 resistance.

US payrolls rose 180K, well above consensus estimates, with an upward revision of last month's figures tacked on. The broader scope suggests that it probably does not matter goven the macro global consensus however, as the market anticipates the Fed is very likely to be on hold for a considerable period ahead.