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Swiss National Bank meeting results

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Tool: USDCHF

Position: Buy

(1 ratings, average: 5,00 of 5)

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The SNB meeting that was held the previous day did not become a surprise for the market. The regulator left the rate unchanged and retained the former rhetoric, within which the high rate of the Swiss franc noted a negative factor for the economy. Investors understand that the SNB will not proceed to the tightening of monetary policy as long as the ECB keeps rates on negative territory. This allows us not to pay much attention to the rhetoric of the regulator and will focus on technical analysis. From the position of the technical analysis, a triangle is formed at the time of H1, which is more likely to be pierced upward. When fixing quotes above the triangle at the time of H1, we recommend to open a long position from the border of the triangle (0.9895) for the purpose of growth to the level of 0.9930 and stop the loss at 0.9865.

Result

35 pips

370 dollars

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Swiss National Bank meeting results

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