EUR/CHF Minor Bounce From Range Floor

By: MIG Bank | Mon, Apr 2, 2012
Print Email

EUR/CHF has seen a test of the 1.2000/1.2040 support zone but early signs of basing have been noted.

While short-term activity could remain subdued the overall tone remains negative after the failure to sustain the break above resistance at 1.2127 and while 1.2100/1.2127 caps, we see risk of an attack on 1.2000/1.2040, below which could then see an acceleration of the major downtrend towards 1.1500.

Settlement above the 1.2100-1.2127 zone would suggest base pattern completion calling for a return to broken support at 1.2226, above which would turn the focus to the 1.2474 swing high.

Daily Technical Report



MIG Bank

Author: MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex broker to obtain a Swiss banking license. Since its foundation in 2003, MIG BANK specializes in online Forex trading and remains a leading Forex broker for clients in more than 120 countries.

No information published constitutes an offer or recommendation, to buy or sell any investment instrument, to any transactions, or to conclude any legal act of any kind whatsoever.

The information published and is provided by MIG BANK for personal use and for purposes only and are to change without notice. MIG BANK makes no representations (either expressed or implied) that the information and opinions expressed are accurate, complete or up to date. In particular, nothing contained constitutes financial, legal, tax or other advice, nor should any investment or any other decisions be made solely based on the content. You should obtain advice from a qualified expert before making any investment decision.

All opinion is based upon sources that MIG BANK believes to be reliable but they have no guarantees that this is the case. Therefore, whilst every effort is made to ensure that the content is accurate and complete, MIG BANK makes no such claim.

Limitation of liability
MIG BANK disclaims, without limitation, all liability for any loss or damage of any kind, including any direct, indirect or consequential damages.

Material Interests
MIG BANK and/or its board of directors, executive management and employees may have or have had interests or positions on, relevant securities.

All material produced is copyright to MIG BANK and may not be copied, e-mailed, faxed or distributed without the express permission of MIG BANK

All Images, XHTML Renderings, and Source Code Copyright ©