Euro Versus Dollar and Franc October 27th

FX Strategy Video > Currency Pairs Analysis

EUR/USD had a fairly volatile day on Wednesday as rumors completely took over the financial markets around the world. The EU summit didn't come out with substantial information at the close of the US session, so the markets have gone back and forth rather rapidly. The technical analysis suggests that a daily close above the 1.40 level is very bullish. A close below the Wednesday low would be a massive sell signal.

EUR/CHF had a bearish day, and then bounced - to form a green Hammer. This shows that the pair "wants" to rise, but it is undoubtedly being held up by the EU and the lack of communiques form the meeting. The EU gets it together - this pair gains. The SNB will make sure it doesn't fall.

Published on 26th of October 2011
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