The EUR/CHF pair initially tried to rally during the course of the day on Friday, but found enough resistance above the 1.10 level to turn things back
The EUR/CHF pair initially tried to rally during the course of the day on Friday, but found enough resistance above the 1.10 level to turn things back around and form a bit of a shooting star. However, we have a couple of hammers ready for that, so we believe that the fact that the shooting star formed suggests that perhaps we busted through a lot of sell orders and now with the hammers that are shown suggests that the buyers will return. On a break above the top of the shooting star, we are buyers in this market should then head towards the 1.1250 level.
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.
