EUR/CHF Forecast August 7, 2015, Technical Analysis

The EUR/CHF pair initially fell during the course of the session on Thursday, but continues to show strength as we broke above the 1.07 level. With this, we feel that the market continues to go to the 1.08 level, and perhaps even the 1.10 level given enough time. We think the pullbacks continue to offer buying opportunities on short-term charts, as the 1.06 level should now be essentially the “floor” in this market. We have no interest in selling, as the Swiss National Bank is working against the value of the Swiss franc, directly against the Euro.