EUR/CHF Forecast January 21, 2015, Technical Analysis

 The EUR/CHF pair initially fell during the day on Wednesday, but turned back around to form a somewhat supportive candle. The candle looks a bit like a hammer, and we are at the very top of the overall consolidation range. If we can break above the 1.10 level on a daily close, we would be longer-term buy-and-hold type of traders going forward. However, pullbacks at this point in time the show signs of support could also be buying opportunities, and therefore we have no interest whatsoever in selling this market as it seems to be so well supported below.