(1,2430) The EUR/CHF confirmed again a strong closing above the top of the previous session; a daily closing above 1,2450 tonight could already confirm a s/t bottom supporting a retest of last week’s top! The indicators of the daily chart are still well positive while those of the s/t ones are still mixed suggesting further consolidation/ correction. Only an hourly closing above 1,2450 will support higher levels suggesting a 1,25 overshooting!! Having formed bullish divergences on the way down this move up could well be corrective and in fact we already have potential negative reversals; a move below 1,2400 will already confirm a negative reversal suggesting but the potential target at 1,2321!! We stay on the sideline.
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Future Trend Research