The EUR/CHF pair initially fell during the course of the day on Tuesday, but then turned back around to form a hammer. On top of that, we have the
The EUR/CHF pair initially fell during the course of the day on Tuesday, but then turned back around to form a hammer. On top of that, we have the Stochastic Oscillator just below on the chart starting to cross over again. That of course signifies a perhaps momentum is starting to swing towards the upside, and if we can break above the 100 day exponential moving average which sits at the vital 1.08 level, we would go ahead and start buying. We recognize that this is a short-term move, but the Swiss are most certainly pain quite a bit of attention to this marketplace, and thereby would more than likely be behind the scenes supporting it.
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.
