EUR/CHF Technical Analysis September 27, 2011

EUR/CHF fell on Monday as traders sold the Euro off in general. However, in the later hours there was an announcement that a plan was in the works to shore up the European banks. This lead to a leg up in the Euro, and this pair gained back some of its losses for the day. None-the-less, it still looks very slow in its movement, and as such we don’t suggest trading it just yet. Shorting isn’t possible with the Swiss National Bank waiting to intervene, and the situation in the EU is still too cloudy to buy this pair. For the time being, we are leaving it alone.

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