EUR/CHF forecast for the week of November 9, 2015, Technical Analysis

The EUR/CHF pair fell during the course of the week, breaking below the 1.08 level. Ultimately, we found enough buying pressure underneath to turn things back around and form a hammer. The hammer of course is a bullish sign, and as a result, if we can break above that hammer we are buyers. We believe the market would then test the 1.10 level above, as it is resistive. If we break above there, the market should go all the way to the 1.20 level over the longer term.