The EUR/CHF pair fell during the session on Thursday again, just as we did on Wednesday. With this, we ended up testing the 1.07 level below for support.
The EUR/CHF pair fell during the session on Thursday again, just as we did on Wednesday. With this, we ended up testing the 1.07 level below for support. This is reason enough for the market to form a hammer, just as we did on Wednesday. With this, the market should continue to go higher, but it is not until we break above the 1.08 level that we are comfortable buying. If we do get that move, we should then head to the 1.10 level, and perhaps even higher than that. Keep in mind that the Swiss National Bank has been working against the value of its own currency for a while now.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
