Medium term trend: Unknown
Significant Levels: 0.8560 (Horizontal Support), 0.8700 (Horizontal Resistance), 0.9000 (Significant Round Number),
There was an unexpected event that happened to CHF. The big move, which is more or less 2000 pips, happened last Thursday after the Swiss Nationa Bank's announcement. I will not go into details of what the announcement was because this analysis is not concerned about the news. The announcement is very clear in the price chart. Bears are in control right now. There is no way we can trade this currency pair as of the moment. We still need to see how the market will react in a few days/weeks. Until we see the clear sentiments of the market after the big announcement, we will not trade this market.