EUR/CHF Forecast Nov. 14th, 2011, Technical Analysis

EUR/CHF rose during the session on Friday as the EU situation appears to be moving forward with Greece and Italy both taking positive steps on Friday. The markets liked this move, and the Swiss are working against the strength of the Franc as well – a perfect reason for this pair to rise. The breaking of 1.24 would signal a new bullish phase in this pair, and we would consider this as a long-term buy and hold signal. Selling isn’t possible with the central bank being involved.

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