The EUR/CHF pair fell initially during the course of the week, but found enough support at the 1.08 level to turn things back around and form a hammer.
The EUR/CHF pair fell initially during the course of the week, but found enough support at the 1.08 level to turn things back around and form a hammer. Ultimately, we need to break above the top of the hammer for the week in order to start buying as we think eventually the market will break out to the upside. If we can get above the 1.10 level, the market will then reach towards the 1.20 level given enough time. We have no interest in selling, the Swiss National Bank continues to work against the value of the Swiss franc.
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.
