EUR/CHF rose during the session on Tuesday as the pair gained a bit of traction. The pair is at the bottom of recent consolidation, and of course still has the Swiss National Bank sitting underneath it to give it support at the 1.20 level as well. Because of this, it is going to be hard to sell this pair going forward, and the prudent trader would have to think that there is a good chance to make money on the long side of the trade the closer we get to the 1.20 level. Because of this, we are not willing to sell, and are looking for supportive candles to buy on the daily charts. However, we haven’t gotten them yet.
EUR/CHF Forecast January 11th, 2012, Technical Analysis
Originally posted here
