FX.co ★ EUR/CHF Downwards Movement Janaury 06, 2011 (Daily Strategy)

EUR/CHF

The negative deviation on the MACD indicator supports a new wave of downwards movements, which is expected to drag the pair down back towards the previous lows around 1.2450. A downwards breach through the trend line where it meets the Fibonacci support line at 1.2635 will form a final confirmation for a continued downwards movement towards our exit goal at 1.2530 Swiss Francs for one Euro.