EUR/CHF jumped sharply last week as SNB announced to set a floor in the pair at 1.2 and defend it with ultimate determination. Nevertheless, after reaching as high as 1.2190, there was no follow through buying in EUR/CHF and the cross then turned sideway. Based on current weakness in Euro, we're expect EUR/CHF to stay in tight range above 1.2 for a while. On the upside, above 1.
Sep 10, 2011 | ActionForex
After edging higher to 1.1971, EUR/CHF formed a short term top there and dropped sharply. Rebound from 1.0061 should have completed and EUR/CHF should have started a falling leg inside the consolidation pattern from 1.0061. Initial bias is mildly on the downside this week for 61.8% retracement of 1.0061 to 1.1971 at 1.0791 and below. Though, we'd expect strong support above 1.
Sep 03, 2011 | ActionForex
EUR/CHF's rebound from 1.0061 extended to as high as 1.1734 last week and closed strongly. Initial bias remains on the upside this week and further rise should be seen to 1.1891 resistance next. Break will target medium term resistance zone of 1.2399/3243. On the downside break of 1.1163 minor support is needed to signal short term reversal.
Aug 28, 2011 | ActionForex
Although the cross is now consolidating following its recovery rally started from the 1.0069 level to the 1.1556 level, it continues to retain that recovery tone. We expect its present price consolidation to end and trigger further strength towards the 1.1829 level, its July 22'2011 high with a turn above there allowing for further strength towards the 1.2178 level, its July 08'2011 low.
By Mohammed Isah | Aug 22, 2011 | FX Tech Strategy
EUR/CHF edged higher to 1.1554 last week but lost momentum since then. Initial bias remains neutral this week and some consolidations would be seen below 1.1554 temporary top first. But note that another rise will remain mildly in favor as long as 1.0920 support holds. Above 1.1554 will target 1.1891 and possibly above. However, break of 1.0920 will indicate that rebound from 1.
Aug 21, 2011 | ActionForex
After diving to new record low at 1.0061, EUR/CHF rebounded stronger as the Swiss Franc staged a broad based reversal on SNB's comments. A short term bottom is formed at 1.0061 and more consolidation should be seen above there in near term. Initial bias is mildly on the upside this week for 61.8% retracement of 1.1891 to 1.0061 at 1.1192 and possibly above.
Aug 15, 2011 | ActionForex
EUR/CHF extended recent down trend last week and made another record low at 1.0707. It's possibly losing some downside momentum for the moment, but further decline is still expected as long as 1.1148 minor resistance holds. Current down trend should continue to 161.8% projection of 1.2344 to 1.1404 from 1.1891 at 1.0372 next. On the upside, though, note that break of 1.
Aug 06, 2011 | ActionForex
EURCHF dropped to as low as 1.1492 last week and met mentioned long term projection target of 1.1516 already. Nevertheless, there is no indication of bottoming yet. Initial bias remains mildly on the downside this week with 1.1721 minor resistance intact. Below 1.1492 will target next cluster level at 1.0903/23 (100% projection of 1.3243 to 11082 from 1.2344 at 1.0903 and 161.8% projection of 1.
Jul 16, 2011 | ActionForex
EUR/CHF's recovery from 1.1802 completed at 1.2344 after hitting 55 days EMA and reversed. Fall from there then extended to as low as 1.1908 despite some intraweek recovery. Initial bias remains on the downside this week for 1.1802 first. Decisive break there will confirm down trend resumption and should target long term projection target at 1.1516. On the upside, above 1.
Jul 10, 2011 | ActionForex
Outlook on EURCHF remains to the upside nearer term after reversing its three-week gains to close at 1.2332 at the end of the week. This is coming on the back of a halt of its broader weakness and a rally off the 1.1805 level, its 2011 low. With that said, further upside gains is expected to follow through higher in the new week with the next resistance standing at the 1.
By Mohammed Isah | Jul 02, 2011 | FX Tech Strategy
EUR/CHF's strong rebound to 1.2332 last week suggests that fall from 1.3233 has finished at 1.1807 and a short term bottom is formed. Initial bias remains on the upside this week for further rise to 61.8% retracement of 1.3233 to 1.1807 at 1.2688. On the downside, below 1.2185 minor support will turn bias neutral and bring consolidations.
Jul 02, 2011 | ActionForex
EUR/CHF dropped to new record low of 1.1946 last week but continued to lose downside momentum with bullish convergence condition in 4 hours MACD. Some consolidations could be seen initially this week but after all, we'll stay bearish as long as 1.2254 resistance holds. Recent down trend is still expected to continue. Sustained trading below 1.
Jun 18, 2011 | ActionForex