Back
2 Mar 2015
EUR/CHF increasingly negative – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, views that with EUR/CHF eroding the 1.0670/42 region, the outlook for the pair is increasingly negative.
Key Quotes
“EUR/CHF sold off sharply on Friday and has now started to erode the 1.0670/42 region – this was the 61.8% retracement of the sell off and the 5th February high, and failure here will put the market on the defensive. If still long we would exit these positions."
“We look for the 1.0811 recent high to now cap.”
“We note the TD perfected set up on the 240 minute chart below the market which suggests near term we will see an attempt to again recover but this should be contained by 1.0800/11.”
“Below 1.0610 would allow for a 1.0560 then 1.04 retracement ahead of further attempts higher.”
Key Quotes
“EUR/CHF sold off sharply on Friday and has now started to erode the 1.0670/42 region – this was the 61.8% retracement of the sell off and the 5th February high, and failure here will put the market on the defensive. If still long we would exit these positions."
“We look for the 1.0811 recent high to now cap.”
“We note the TD perfected set up on the 240 minute chart below the market which suggests near term we will see an attempt to again recover but this should be contained by 1.0800/11.”
“Below 1.0610 would allow for a 1.0560 then 1.04 retracement ahead of further attempts higher.”