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EUR/CHF Forecast December 19, 2011, Technical Analysis

By:
Christopher Lewis
Updated: Jan 1, 2011, 00:00 UTC

EUR/CHF fell on Friday as the gap from November has been closed. The area should provide support now, but the close of the candle was at the extreme low.

EUR/CHF Forecast December 19, 2011, Technical Analysis

EUR/CHF fell on Friday as the gap from November has been closed. The area should provide support now, but the close of the candle was at the extreme low. The 1.22 level is also the bottom of the range, and this could be a buying opportunity if we get supportive action on a shorter time frame. Although owning the Euro doesn’t feel good, the Swiss National Bank is sitting below, and the 1.20 level won’t be broken without attracting the central bank’s attention. The pair should continue to grind sideways overall.

EUR/CHF Forecast December 19, 2011, Technical Analysis
EUR/CHF Forecast December 19, 2011, Technical Analysis

About the Author

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.

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