The EUR/CHF pair fell for the week as the pair continues to trade in a tight range. The market is being artificially propped up by the Swiss National Bank
The EUR/CHF pair fell for the week as the pair continues to trade in a tight range. The market is being artificially propped up by the Swiss National Bank as the SNB is working with a “floor” at 1.2000. The market is therefore a “buy only” market, but there needs to be some kind of resolution to the debt issues in Europe for us to get wildly long in this pair. This pullback could be a buying opportunity, but it shows that the Euro is rising against many currencies, but cant against one that has a floor in it – this could be a sign of underlying weakness in the “Euro rally” we have seen lately.
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.
