EUR/CHF Forecast August 4, 2015, Technical Analysis

The EUR/CHF pair rose slightly during the course of the session on Monday, using the 1.06 level as support. The market should continue to go higher over the longer term though, because we believe that the Swiss National Bank will not allow this market to drop much further. With this, we are bullish but we recognize that the volatility could continue going forward. Ultimately, we believe that the market is heading to the 1.08 handle, and then the 1.10 level after that. We have no interest whatsoever in selling, and believe that the “floor” in this market is somewhere near the 1.05 handle.