Forecast:
At 1.2 / 1.206 a strong level (Support) will be formed providing a clear signal for buy deals with the target seen at the 1.2270 level. Stop loss is to be placed below 1.1850.

Overview:

EUR/CHF: The market is still showing signs of strength following the break above 1.2000, now it could rebuy at the spot of 1.2060. Therefore, it will turn to a strong support. In such case, a stronger rise should be seen towards 1.2270 resistance for confirmation. Moreover, the trend is still above 50% Fibonacci retracement level, thus it will be a good sign to buy above 1.2 (rebuy at 1.2060), and sell below 1.1950.

Types of Analysis:

- Fundamental analysis: the Swissie is also quoted amid the promise to “buy unlimited euro” in order to support this market.
- Technical analysis: on a daily chart the level of 1.2 coincides with the golden ratio (61.8% of Fibonacci retracement levels), then it indicates a bullish market.
- Sentiment analysis: psychological level is at 1.2000, in this case one should be patient to keep the trade till the end.
- Money management: always invest 3% - 7% of the capital (composite) per all trades, always risk (stop loss) 1% - 5% of the capital per all trades, and always trade high risk ratio - trade at least 1/2.
- Period: long-term.
- Stop loss must be set at 1.1950.

If you have any questions or requests, please feel free to contact me: [email protected].