EURCHF Former Resistance Turned Support

FX:EURCHF   Euro / Swiss Franc
19 0 1
One of the most basic forms of support and resistance is when a former resistance area becomes support. In this pair, price finally broke above the year high since the SNB pulled the rug out. In this instance, I will definitely look at price action as it reaches this area. SNB has said before that a weaker CHF is better for the economy. Really long term, I think the SNB would be delighted to see this pair reach the old 1.20 floor it once had. This obviously wont happen for quite a while if it happens at all. Just be aware of a good buying opportunity coming up.

We talk more about this in this weeks Weekend Preview:

Please leave comments, questions, or ideas below!
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out