EUR/CHF Forecast February 9, 2016, Technical Analysis

The EUR/CHF pair had a pretty volatile session on Monday, as we tested the 1.10 level below. That’s an area that was previously massive resistance, so it should now be massive support. It’s very likely that buyers will be attracted to this area, so therefore on a supportive candle we are willing to start buying again. This market should continue to reach towards the 1.12 level, and then possibly higher than that. The Swiss National Bank is behind the scenes at this moment, we believe that will continue to be the case going forward.