The EUR/CHF pair fell during the course of the session on Wednesday, but found support at the 1.06 level to turn things back around. By forming this
The EUR/CHF pair fell during the course of the session on Wednesday, but found support at the 1.06 level to turn things back around. By forming this hammer, that is a bullish sign and we feel that it’s only a matter of time before this pair continues to go higher. Perhaps the Swiss National Bank is now going to start defending the 1.06 handle, or perhaps it is just the remnants of the previous resistance. Nonetheless, we think that the buyers will return to this market again and again, and that we will eventually head towards the 1.08 handle given enough time.
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.
