EUR/CHF Forecast February 24, 2012, Technical Analysis

 

EUR/CHF fell again on Thursday, but managed a slight bounce in the late hours as the Euro gained against most other currencies. This pair has a “minimum acceptable rate of 1.20” by the Swiss National Bank and as a result of this – we aren’t willing to sell it down at these levels. The daily candle looks a bit like a hammer, so it could be ready for a bounce at this point in time. The only direction we can trade is up anyway, so we are willing to step in and buy at this point in the market.

EUR/CHF Forecast February 24, 2012, Technical Analysis
EUR/CHF Forecast February 24, 2012, Technical Analysis

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