FX:EURCHF is at an very important area. After the huge drop in January 2015 it has been slowly climbing back.
the 1.2 area has been tested several times recently. There should be a fair chance for a breakout.
I have bought 1.970 and 1.980. Consider the position to be stopped out below 1.967.
I am bullish on this pair.
My bets are on one of the two following scenarios:
- Yellow scenario: A handle forms in addition to the already existing cup. This could take several days or even weeks.
- Blue scenario: We may form a little bull flag and break out of it to the upside
I will wait for things to become a bit clearer before putting my chips on the table.