EUR/CHF’s Medium Term Rally
Trading of the cross is still neutral. Medium term rally should prolong. Soon, a top will be formed. If further increase occurs, firm resistance will appear under 1.2 handle, leading to medium term reversal. Following pivot points include: (S1) 1.1734; (P) 1.1755; (R1) 1.1781.
Breach of 1.1602 support will confirm reversal and prognosis will become bearish towards 1.1387 and lower.
Soon, a medium term top will be formed. A long term growth keeps expanding. EUR/CHF will align 1.2000. If resistance turned support of 1.1198 stands, this prognosis prevails. If the cross hits 1.1198, the forecast will be changed.