Although the EUR/CHF pair rose during the session on Wednesday, it was hardly an impressive performance. The pair spiked, but fell in the late hours of the session to form a shooting star at the bottom of the most recent range. While we don’t condone selling this pair at these low levels because of the possibility of Swiss National Bank intervention, we certainly wouldn’t want to be long this pair either. Because of this weak price action at the bottom of the range – we are flat in this market.
EUR/CHF Forecast December 22, 2011, Technical Analysis
Originally posted here
