EUR/CHF forecast for the week of February 8, 2016, Technical Analysis

The EUR/CHF pair initially tried to rally during the course the week but turned back around to form a massive shooting star. This of course is a very negative sign, but we have recently broken out so we think that this pullback will more than likely invite buyers to get involved in what should be a longer-term move much higher. On the other hand, if we break above the top of the shooting star for the week, we feel that the market will continue to go much higher than it has and continue to reach towards the 1.15 handle given enough time.