EUR/CHF Classical Technical Report 07.27
EUR/CHF:Although this market continues to drop to fresh record lows on a frequent basis and remains locked in a very intense downtrend, we continue to like the idea of looking for opportunities to attempt to establish a countertrend long position rather than selling in what we believe to be a very overdone downtrend. Our long position by 1.1445 from last Monday worked out quite well, and we look for the current recovery to extend back above 1.2000 over the coming sessions. In the interim, look for any setbacks to be well supported above 1.1500 on a daily close basis, while only back below 1.1400 gives reason for concern.
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