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EUR/CHF Classical Technical Report  - Special Update

EUR/CHF Classical Technical Report - Special Update

2011-09-06 08:45:00
Joel Kruger, Technical Strategist
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EURCHF_Classical_body_chf.png, EUR/CHF Classical Technical Report  - Special Update

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. Tuesday’s dramatic break back above 1.1975 now officially confirms a fresh higher low by 1.1000, above the 1.0075 record lows and opens a fresh upside extension with a measured move objective towards 1.3000 over the coming sessions. Look for any setbacks to now be well supported above 1.1500 on a daily close basis.

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

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