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.
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.
