fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: EUR/CHF Weekly Outlook  Mon Oct 22, 2012 12:20 pm | |
| EUR/CHF Weekly Outlook Overall outlook in EUR/CHF remains unchanged. Consolidation from 1.2184 is still in progress. But downside should be contained by 1.2035 minor support and bring recovery. There is no scope for a strong rally in near term and more consolidation would likely be seen. But a break of 1.2142 minor resistance will now argue that EUR/CHF is building upside momentum again and would turn focus back to 1.2184 resistance. In the bigger picture, current development indicates that further rally would likely be seen in EUR/CHF in medium term. However, such rally is viewed as part of a consolidative pattern. Break of 1.2472 resistance is possible. But we'd continue to expect strong resistance inside 1.2399/3243 resistance zone to limit upside. Meanwhile, any downside attempt should be contained by 1.2, the floor set by SNB.   | |
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