EUR/CHF confirmed on Friday a strong closing well above the top of the previous sessions and also today it started the session with strong foot managing even a gap up, now support area at 1,2264 – 1,2247, area that could be tested before moving higher, eventually. The weekly closing was however still negative but not the indicators!!
The indicators of the daily chart are also again positive this morning supporting higher levels. On top of that the cross is turning above the 200 days line and a daily closing above the line at 1,2285 will be a good support for the cross. The indicators of the s/t charts are positive but of course a little overbought. Nevertheless we expect an extension of the move up toward the 1,2330 resistance area.
We remain on the sideline favouring higher levels.
Click here to read the full report:
http://www.easyforexnews.net/wp-content/uploads/2011/11/EUR-CHF-11.07.11.pdf
FUTURE TREND RESEARCH