By FXEmpire.com
The EUR/CHF pair fell after initially rising during the Tuesday session. The pair is known to have a “floor” in it at the 1.20 level, and as a result you simply cannot sell at this point – unless of course you are willing to take on the Swiss National Bank. The SNB has announced that this level is one they will defend, and buy “unlimited Euros”. Because of this, we can only buy as there will be intervention if this pair gets too low. With this in mind, we are buying close to the 1.20 level, and taking profits after a small gain. If the pair falls, we could see massive intervention which would offer much larger profits, perhaps to 1.24 or so.
EUR/CHF Forecast April 11, 2012, Technical Analysis
Originally posted here
