EUR/CHF Forecast for the Week of February 20, 2012, Technical Analysis

EUR/CHF fell again during the week, but still remains lifted by the floor that the Swiss National Bank has put out in this market. The 1.20 level is the “minimum acceptable rate” according to the SNB, and as such – the market simply cannot fall. The market cannot rise either, so this is something to note as well. The Euro strength just doesn’t seem to be found in this market. The 1.24 level above continues to keep a lid on the market, and the 1.25 level above that will certainly do the same as it is a large round psychologically important number. With this in mind, we simply don’t trade this pair on the longer-term charts at the moment.

EUR/CHF Forecast for the Week of February 20, 2012, Technical Analysis
EUR/CHF Forecast for the Week of February 20, 2012, Technical Analysis

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