EUR/CHF fell again during the Friday session as traders continue to run from the Euro in general. The light volume didn’t seem to dissuade traders from pressing the sell button on their terminals, and as a result – we fell even harder than Thursday. The pair is coming close to the 1.21 support area, and the “floor” set by the Swiss National Bank is just below at the 1.20 level. Because of this, it is hard to sell this pair, even if it really does look this weak. We are looking for supportive candles in this area to perhaps try for a short-term long, but don’t see them yet.
EUR/CHF Forecast January 2, 2012, Technical Analysis
Originally posted here
