By FX Empire.com
The EUR/CHF is a heavily manipulated market currently. The Swiss National Bank has declared the 1.20 level a “floor “in this pair, and as such – it doesn’t dare test it. The Wednesday session saw the EUR/CHF rise for a while though, and this would be the only direction we could take since the other direction has a central bank in the way. However, this market rose, and then fell back forming a shooting star. This doesn’t look overly bearish, rather like a market that simply isn’t ready to move yet. We will be looking for a long-term buy on a bullish candle, but until Europe gets its collective act together, this market will struggle to rise.
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