EUR/CHF Is Still Alive

Written by: Skerdian Meta • Friday, January 27, 2017 • 1 min read

• Last updated: Friday, January 27, 2017

After a long time trading between 1.0680 and 1.0740-50, EUR/CHF broke that support level yesterday in the evening. It seemed like our milk cow had finally run out of dairy.

That would be such a shame since we have made quite a few pips in this forex pair. But last night, the price got back above this massive support level, so that's not exactly a proper break.

We bought this forex pair around 1.0780 with the idea that since the price moved above support again, the EUR/CHF sellers would get discouraged.

That means range trading for a while before the next move higher. The price has stalled and it's trading in a tight range, threatening the 1.07 level. Now we have to wait for the next move. Hopefully, the Swiss National Bank will cover our backs as well.

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ABOUT THE AUTHOR See More

Skerdian Meta

Lead Analyst

Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.