EUR/CHF Forecast Nov. 28th, 2011, Technical Analysis

EUR/CHF initially rose during the Friday session as traders reacted to rumors of an SNB announcement of a higher floor in this pair at 16GMT. The announcement never came, and the pair gave back much of its gains for the session. The candle for the day looks a bit like a shooting star, which is quite remarkable as it is a bearish sign – even with the Swiss National Bank sitting below. It looks like the Euro is in massive trouble at this point, but this will not be the pair to get involved in if it falls hard. We would buy on daily closes above 1.25, but don’t see that coming anytime soon.

EUR/CHF Forecast Nov. 28th, 2011, Technical Analysis EUR/CHF Forecast Nov. 28th, 2011, Technical Analysis

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