The EUR/CHF pair fell during the course of the week, breaking below the 1.08 level. Ultimately, we found enough buying pressure underneath to turn things
The EUR/CHF pair fell during the course of the week, breaking below the 1.08 level. Ultimately, we found enough buying pressure underneath to turn things back around and form a hammer. The hammer of course is a bullish sign, and as a result, if we can break above that hammer we are buyers. We believe the market would then test the 1.10 level above, as it is resistive. If we break above there, the market should go all the way to the 1.20 level over the longer term.
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.
