Eur/chf 27/12/11
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  1. #1

    Default Eur/chf 27/12/11

    The pair has been moving in a channel between 1.215 and 1.245 for three months. The reason for this is the strengthening of the USD against the CHF from one hand, and the support of SNB on the other hand. The price reached the support of the 200 SMA around the lower boundary of the channel and if it keeps the current pattern, it might rise to the upper boundary at 1.24-1.25.

    Eur/chf 27/12/11-eurchf2712-jpg

  2. #2
    The pair is "laying" on the support of 1.215. Stochastic levels are low, which means that there are good chances that the pair will rise up to the resistance at 1.24. But, if it eventually break-down, the SNB might wait at 1.20 so it might be a trap.

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