The EUR/CHF continued to grind sideways just above the well-known floor of 1.20 in this pair, as dictated by the Swiss National Bank for the Monday session. The pair can only be bought because of this, and the recent tight range makes this even more difficult. However, there is something to be said for “free” pips, and this pair is offering that at the moment.
The selling off of this pair continues to offer easy trades, as the market won’t necessarily test the patience of the SNB too far. The falls in price have all offered short-term buying opportunities, and we think that the closer we get to the 1.20 mark, the more we want to buy. A break of the hammer’s top on Monday would also have us considering a buy as well. We aren’t aiming for much – maybe 20 – 30 pips, but this is about as “safe” of a trade that you will ever get in Forex markets.
EUR/CHF Forecast March 6, 2012, Technical Analysis
Originally posted here
