EUR/CHF fell on Monday as traders continue to run from the Euro in general. The fact that the Swiss National Bank is working against the value of the
EUR/CHF fell on Monday as traders continue to run from the Euro in general. The fact that the Swiss National Bank is working against the value of the Franc against the Euro and the pair still falls says plenty about the state of the Euro presently. The volumes are light, but the signal is there – you simply cannot buy this pair at the moment. However, the SNB is going to defend the 1.20 level, and the pair is difficult to trade for anything more than a scalp at this point. Presently, we see so much weakness that we are not willing to buy until we get closer to the SNB-imposed floor in this pair.
EUR/CHF Forecast December 20, 2011, Technical Analysis
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.
