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.
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.
