EUR/CHF Forecast February 20, 2012, Technical Analysis

EUR/CHF rose during the Friday session as traders bought the Euro in general. The Franc cannot be bought regardless, as the Swiss National Bank has a well-known floor in this pair at the 1.20 level. The area is just below, so any selling would be limited in its opportunity anyway. This makes the EUR/CHF pair a “buy only” one at the moment.

However, until the Euro is a currency that can be bought for the longer-term, it is hard to think that the pair will rise too far as the situation in Europe should continue to weigh upon the common currency. With this in mind, we buy this pair only, and look to do it closer to the 1.20 level.

EUR/CHF Forecast February 20, 2012, Technical Analysis
EUR/CHF Forecast February 20, 2012, Technical Analysis

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