(1,2501) The EUR/CHF confirmed a nice rebound after having formed a double bottom above 1,2410. Overall the cross was interior the range of Friday forming a new inside day with 1,2560 – 1,2395 the levels to follow in the coming hours. A daily closing above 1,2560 will already resume the move up!! The indicators of the daily chart are still well positive but those of the s/t ones are still showing a mixed picture suggesting further consolidation. In the hourly chart we have even potential negative reversals but no divergences has been formed on the way down. We prefer therefore avoiding shorts. We stay on the sideline.
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