EUR/CHF is holding very well above the 200 days line at 1,2274. Yesterday it confirmed a session of consolidation forming a new inside day with 1,2415 – 1,2270 the levels to follow in the coming hours. The indicators of the daily chart are still positive but those of the s/t ones remain mixed supporting further consolidation.
While below 1,2385 we could still see an extension of the correction toward the 1,2262 level where we find today the 200 hours line. A break above 1,2385 confirmed by an hourly closing will instead support a move up confirming also a positive reversal in the hourly chart suggesting a s/t target at 1,2595!!
We remain on the sideline; we suggest waiting for lower levels to buy.
http://www.easyforexnews.net/wp-content/uploads/2011/11/EUR-CHF-11.11.pdf
FUTURE TREND RESEARCH