CHF Rests At the 1.20 Floor

Fan Yang \ 7:46 AM 05/14/12

The chairman of the Swiss Nation Bank (SNB), Thomas Jordan will speak in Zurich. The market will monitor his language for interest rate clues as well as gauging the strength of EUR/CHF’s 1.20 Floor. First, looking at the USD/CHF, we see the market pushing above the March high at 0.9334. Note the RSI reading in the daily chart pushing above 70, a sign of bullish momentum, but possibly near-term overbought condition…

EUR/CHF – SNB Floor of 1.20 Showing Cracks

Fan Yang \ 7:00 AM 04/05/12

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The EUR/CHF has been hovering above 1.2030 since February with minimal volatility except for the few days before the SNB quarterly policy meeting back in mid -March. Since then, the market has been testing the 1.2030 range support. During the 4/4 Asian-European session, the market fell through and continued until it cracked 1.20 (a level the Swiss National Bank has pledged to defend)…

EUR/CHF Trading at Range Support – Is it Price, Time to Buy?

Fan Yang \ 10:08 PM 03/29/12

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There are two major things you need to know about EUR/CHF at the moment. 1) EUR is pressured and this favors CHF as a safe haven currency in Europe. Thus the failure for EUR/CHF to rally reflects the overwhelming concern for even the survival of the Eurozone. Spain sounds like it may be the next chapter. 2) The SNB has pledged to defend a 1.20 floor for EUR/CHF…

EUR/CHF Reaching Toward 2012 High with SNB Meeting Ahead

Fan Yang \ 12:14 PM 03/14/12

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The previously posted trade plan for EUR/CHF has panned out so far after an relatively long period of sideways action seen in the 4H chart. The RSI was stuck between 40 and 60 and eventually popped to the upside to confirm price action which popped up above the 4H 200 simple moving average and away from the other congesting moving averages (100, 55, 21, 8)…

A Look at USD/CHF, GBP/CHF and EUR/CHF At Respective Declining Trendlines

Fan Yang \ 9:48 PM 03/05/12

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The USD/CHF saw a resistance cluster at 0.9160 respected it in the 3/5 global trading session. This cluster included a 200 4H simple moving average, 61.8% retracement of the 0.9298(0.93)-0.8929 downswing and a declining trendline going back to the 0.9572 high on Jan.17. On the way down, 0.9080 will be a first key pivot to break. The next support pivot is near 0.9015…

EUR/CHF – A Bullish Trade Plan with SNB’s 1.20 Floor in Mind

Fan Yang \ 11:33 AM 02/27/12

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After rallying to 1.2124, The EUR/CHF is now back near the Jan-Feb. lows, near 1.2030. A swing projection seen in the 4H chart targets 1.2033. The market is at the moment supported at 1.2040. As the market nears 1.20, bears will be cautious of possible intervention by the SNB to support the EUR/CHF. It had pledged in September of 2011 to support the pair above 1.20. With this in mind, let’s take a look at…

EUR/CHF Testing Corrective Pattern Support

Fan Yang \ 10:43 AM 02/13/12

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The 1.2130 was seen as an important resistance as the EUR/CHF anchored away from 1.20 (finding support at 1.2030) in an expanding pattern. Last week, the market came close, but has since been sliding. As we start the 2/13 US session, the EUR/CHF is sliding below the trendline support for this pattern. The RSI is near now testing 40, below which we can say bullish momentum is lost…

EUR/CHF Breaks Above Channel with SNB Intervention Watch On

Fan Yang \ 11:48 PM 02/01/12

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The EUR/CHF market is on it’s way to the first re-test of the 1.20 floor. This is the level the Swiss National Bank has pledged to “defend”. The EUR/CHF has been persistently bearish since falling from the 2012 high near 1.2470 and since Jan. 25th has been trading in a declining channel seen in the 1H chart. A bullish divergence developed over the past couple of sessions…

EUR/CHF Trading Near Support Factors and Soon to be Oversold

Fan Yang \ 3:00 PM 12/19/11

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The EUR/CHF has been sliding sharply since respecting resistance of 1.2455, and then at 1.24. The daily chart shows the market sliding to the 200 day simple moving average. The RSI is breaking below 40, reflecting the loss of bullish momentum, which can already be seen since the market has been trading in a range roughly between 1.2455 and 1.2125…

Technical Setups in the EUR/CHF, GBP/CHF, and USD/CHF After Reactions to SNB Policy

Fan Yang \ 7:15 AM 12/15/11

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The SNB did not show any indication that it will move the CHF currency floor with the EUR, and did not move to negative interest rates. The lack of these policies opened the door for Swissie-strength. Let’s take a look at the retractions and technical setups in the EUR/CHF, GBP/CHF, and the USD/CHF. The EUR/CHF rally failed at 1.24 and then slid sharply to 1.2250…

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