The EUR/CHF pair broke higher initially during the course of the week, clearing the 1.06 level. With that being the case, the market found resistance
The EUR/CHF pair broke higher initially during the course of the week, clearing the 1.06 level. With that being the case, the market found resistance though, and as a result we formed a shooting star. However, we do not see longer-term trades available in this market, simply because there so much in the way of noise and barriers, so having said that we think the market may drift a little bit lower from here, but longer-term we feel that the market could rally. Ultimately, the Swiss National Bank should continue to work against the value of the Swiss franc in general.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
