(1,2370) The EUR/CHF failed to confirm Friday’s positive day reversal but the closing was positive. While above 1,2355, on an hourly closing, we can expect further strength! The indicators of the daily chart are still well negative but those of the s/t ones are still showing a mixed picture suggesting further consolidation/ correction. While below the 200 hours line at 1,2390 the cross will however remain under some pressure suggesting a retest of the 1,2300/ 1.2280 area. In the hourly chart we have even a negative reversal suggesting a s/t target at 1,2244. An hourly closing below 1,2350 will resume the decline!! We are still long but moved the stop to 1,2348.
Read the full report: EURCHF 06.11
Future Trend