EUR/CHF Forecast January 29, 2016, Technical Analysis

The EUR/CHF pair initially fell during the course of the day on Thursday, but found enough buying pressure near the 1.1050 level to turn things around and shoot much higher. Because of this, we believe that the pair has broken out and it is now a longer-term “buy-and-hold” type of situation as we actually have a target of 1.20 at this point. Pullbacks will continue to be buying opportunities, and as a result we believe that this pair can be bought again and again. We have no scenario in which we are willing to start selling at this point.