EUR/CHF fell on Wednesday as the markets continue to fade slightly. However, the Swiss National Bank has the “floor” in this pair at the 1.20 level, and as a result, we simply cannot sell this pair at this time. The market is one that we can only buy as the SNB will certainly intervene if it falls below the 1.20 level. With this in mind, we are willing to buy it the closer it gets to that level. We may use shorter time frames in order to find supportive candles to enter. At this point in time, we are simply far too close to 1.20 to even think about selling.
EUR/CHF Forecast February 23, 2012, Technical Analysis
Originally posted here
