EUR/CHF rose slightly over the course of the day as the markets originally got long of the Franc, but the bounce late in the session saw this pair make a
EUR/CHF rose slightly over the course of the day as the markets originally got long of the Franc, but the bounce late in the session saw this pair make a hammer for the session once again. The pair looks to sit still as the markets cannot sell this pair for any length of time as the Swiss National Bank has put a “floor” in this pair of 1.20 recently. The 1.25 level continues to be very resistive as the market simply can’t get above it. Until it does – we aren’t trading this pair for anything more than a scalp.
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.
