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Dec 19, 2014

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Market Analysis

Home » Technical Analysis » Daily » CHF » EUR/CHF Consolidating around the 200-DAY SMA

EUR/CHF Consolidating around the 200-DAY SMA

Forex Technical Update

EUR/CHF Daily Chart 9:40AM EDT 11/26/2012

EUR/CHF 11/26/2012 daily chart

Volatility dying again: EUR/CHF is one of those extremely boring pair to monitor or trade this year. It spent April through August stuck at 1.20, with a few spikes to the upside. Then in September, it rallied sharply, unlike the previous spikes, but was capped off at 1.2180. The volatility then slowly subsided. EUR/CHF in a very non-mobile market as it settles around the 200-day simple moving average near 1.2040.

Resistance, support: The recent consolidation resistance is coincident with a declining trendline seen in the daily chart. By this time, breaking above the consolidation resistnace of 1.2055 will also break the declining trendline and indicate some bottoming action, which opens up some higher resistance pivots, but also revives the bullish outlook showing bottoming above the 1.20 SNB-floor. The 2012-high is 1.2183 established in September, and could be a target for the bullish break (an aggressive one considering the low volatility in EUR/CHF).

A break below the 1.2033 support opens up the 1.20 floor to be tested again. This floor has remained support throughout 2012.

EUR/CHF 4H Chart 2:28PM EDT 10/11/2012

EUR/CHF 11/26/2012 4H chart

Fan Yang CMT is a forex trader, analyst, educator and Chief Technical Strategist of FXTimes – provider of Forex News, Analysis, Education, Videos, Charts, and other trading resources.

Information and opinions contained in this report are for educational purposes only and do not constitute an investment advice. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness. FXTimes will not accept liability for any loss of profit or damage which may arise directly, indirectly or consequently from use of or reliance on the trading set-ups or any accompanying chart analysis.

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