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EUR/CHF Classical 02.25

EUR/CHF Classical 02.25

2011-02-25 06:48:00
Joel Kruger, Technical Strategist
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EURCHF_Classical_body_eurchf2.png, EUR/CHF Classical 02.25

EUR/CHF:The market has come under some pressure over the past several days with setbacks extending into the 1.2700’s ahead of the latest minor bounce. However, with medium-term studies looking more constructive and showing the formation of a potential major base by record lows at 1.2400 from late 2010, we like the idea of buying into this dip from 1.3200 in anticipation of a higher platform somewhere in the 1.2700’s. A close back above 1.2835 helps to confirm.

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com

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