The EUR/CHF pair tried to rally during the course of the week but found far too much in the way of resistance above the 1.08 handle. By doing so, we ended
The EUR/CHF pair tried to rally during the course of the week but found far too much in the way of resistance above the 1.08 handle. By doing so, we ended up forming a shooting star. Over the previous three weeks, we have seen a shooting star, a hammer, and then finally another shooting star. This tells us that the market is going to continue to be very tight at this moment, but we do think that there is a proclivity to go higher given enough time. Above the 1.09 level, we would be willing to start going long with a small position.
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.
