EUR/CHF Classical Technical Report 09.02
EUR/CHF: The latest sharp reversal off of record lows just shy of parity is encouraging and could finally be starting to signal the formation of a major base. Weekly studies are also confirming with the formation with a very bullish bottom close. From here, look for an acceleration of gains back towards the 1.2500 area over the coming sessions with current setbacks expected to be well supported above 1.1000 where a medium-term higher low is now sought out.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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