Good afternoon ladies and gentlemen
I hope you have all had a great week so far. Entries are still hard to find on the FOREX markets so mostly still standing aside for now. On my last market analysis, we looked at the EURCHF which seemed to be working it’s way back south. However, with news out yesterday surrounding the Swiss National Bank, the Bulls shot up to the tune of 1000 pips which is a little out of character for the regular movement of this currency pairing. Price is in close proximity to the VI on the daily but the weekly is still saying that the odds are with the Bears. Our stance has not changed until a break North of the VI but as for now there is still no entry on here. This has been a Bears market for a long time and so a cautious and timed entry if going against the trend will be required. A break of the low of August and the psychological figure will give rise to my curiosity again.
For now stand aside but does your own analysis agree.
Zaheer Anwari
Tags: eurchf
