FX.co ★ EUR/CHF Bullish Outlook, July 15, 2011 (Daily Strategy)

EUR/CHF

According fibonacci indicator, Euro-Swiss franc could resume its upward sequence he had in previous day, only if the price remains above weekly support around the 1.1620 , for a long position. With A goal of take profit around the 1.2350 level .

A clear weekly closure below the channel's range (at around 1.15 and below) will be a signal of real danger for the continued downwards movement and for an immediate exit from all existing long positions.