The EUR/CHF pair initially fell during the course the week but then turned back around to form a bit of a hammer. The hammer is one of the more bullish
The EUR/CHF pair initially fell during the course the week but then turned back around to form a bit of a hammer. The hammer is one of the more bullish candlesticks out there, so a break above the 1.10 level would simply confirm that the buyers are in fact starting to press higher. A break above there should send this market looking for the 1.20 level given enough time, as it was where the Swiss National Bank removed the currency peg previously. We believe that buying dips and of course breakouts will be the way to go going forward.
EUR/CHF forecast for the week of January 25, 2016, Technical Analysis
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.
