On January 2015 the EUR/CHF went from 1.20 to 0.84 in a matter of a single day. The second day after the SNB decision, the Euro started to appreciate against the CHF and today we are just a few pips shy of the pre-decision level of 1.20.
Today, the EUR/CHF exchange rate reached 1.1993 and is currently trading at 1.1986. The pair is expected to reach 1.20 today. After that, it is unknown what the market participants will do. They might either boost the progression beyond the previous peg level or bring it down below in an attempt to short the Euro and long the Swiss Franc.
Chart: EUR/CHF D1
Very detailed analysis, thank you.
ReplyDeleteExcellent analysis as always.
ReplyDeleteIt almost reached the level which it was maintaining before the big slump!
ReplyDeleteAs always, very detailed analysis.
ReplyDeleteThe pair is consolidating.
ReplyDelete