EUR/CHF Classical Technical Report 08.08
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. Still, at this point, given the violent nature of the trend, we will need to see some form of confirmation to encourage reversal prospects. Look for a break and close back above 1.1200 to alleviate immediate downside pressures and open the door for a much needed corrective bounce.
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