Switzerland National Bank officially announced the intervention in the FX market to stop the Swiss Franc depreciation, which confirms a regime change for the SNB. and their Hawkish monetary policy will strengthen the CHF and aim for a lower inflation, meanwhile the Bank of England hiked the rates slowly and with hesitations despite a very high inflation which should contribute to a strong CHF against GBP.
Technically we noticed a breakout of the Daily trend, we will look into selling the retrace of the breakout around the monthly zone of 1.129, with a SL above previous highs as in the swing trades the movements are more violent so a proper risk management should be considered.
Remember that whatever is your reasoning for the market and no matter how strong are the analysis there is always a probability of losing as trading is more of a probability field so make sure to always consider a good RR, risk small and aim higher.
Your questions are very welcome!
Technically we noticed a breakout of the Daily trend, we will look into selling the retrace of the breakout around the monthly zone of 1.129, with a SL above previous highs as in the swing trades the movements are more violent so a proper risk management should be considered.
Remember that whatever is your reasoning for the market and no matter how strong are the analysis there is always a probability of losing as trading is more of a probability field so make sure to always consider a good RR, risk small and aim higher.
Your questions are very welcome!
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