EUR/CHF rose from extreme lows on Monday as we have reached the lower area of the massive consolidation area that this pair has been stuck in. The 1.20 level below is a massive support area that is in place because of the “floor” that the Swiss National Bank has put into place. Because of this, it is almost impossible for us to sell at this point. The buying of this pair could be done, but you must understand that the trade forward could be choppy and nerve-racking as the Euro on the whole is toxic. Because of this – we are willing to buy, but only with small positions and aim for 200 pips or so.
EUR/CHF Forecast January 17, 2012, Technical Analysis
Originally posted here
