The EUR/CHF pair broke down a little bit during the session on Thursday, but found enough support near the 1.08 level to turn things back around and form
The EUR/CHF pair broke down a little bit during the session on Thursday, but found enough support near the 1.08 level to turn things back around and form a hammer. The hammer of course is a very bullish sign, and as a result we still believe that the buyers are in control. Ultimately though, we recognize that the market is simply taking a bit of a breather at the moment, so we are not expecting explosive moves in the short-term. Given enough time though, we believe that the market should then head towards the 1.10 level so we are buyers but will have to be very patient.
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.
