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.
