What we saw last week on the EURCHF was a break-out of a major trendline. This was then followed by a retest of the last major level before the break of said trendline. With an increase in EUR strength outlook as well as a weak CHF (according to the latest COT reports), we can expect a push off of this level for a long position. Alternatively, markets could retest the previous major level in an attempt to create the liquidity for the rally up.
Let's secure this bag.
Let's secure this bag.