EUR/CHF Technical Analysis October 31, 2011

EUR/CHF continues to sit still. The Swiss National Bank has put a “floor” in on this pair at the 1.20 level, and the whole world knows it. Because of this, we think that the sell side is without a doubt limited at this point. However, what we do find interesting about this market is that even though the EU has “fixed” itself, nobody is buying the Euro against the Franc. One would think that the Franc would get sold off massively as the SNB is trying to make this market rise. While this chart isn’t tradable at this point in time, it does show that not all is what it seems with the Euro perhaps. This chart is an interesting study in market sentiment currently, rather than a trading area.