EUR/CHF Bullish Outlook , March 02, 2011 (Daily Strategy)

EUR/CHF

The EUR/CHF pair continued to trend downward. As a result of such downside movement the pair reached the correction level 61.8%,

if we draw the Fibonacci indicator since the beginning of an upward trend between January 3 and February 11, we see that the pair has been corrected to the 61.8% level around 1.2700.

Therefore, we enter a buy position around 1.2720.
with a partial objective in 1.2930. and if the price break the resistance, take us to our ultimate goal around 1.3080 francs per euro.