By FX Empire.com
The EUR/CHF pair shot straight up on Wednesday as the traders in this market finally tried to get a move going. The break above the 1.21 level suggests that we could see continuation of the move, and we are willing to get involved as well. We would like to see a break above the Wednesday highs, or at least a pullback.
With the Swiss National Bank protecting the 1.20 level, this pair cannot be sold as it simply doesn’t have enough room to move in order to make the risk worthwhile. The recent action suggests that the market will honor this floor, we are bullish – or at least as you can be in a pair that typically doesn’t move.
EUR/CHF Forecast March 15, 2012, Technical Analysis
Originally posted here
