Euro Versus Franc and Dollar August 25th

FX Strategy Video > Currency Pairs Analysis

The EUR/CHF pair has several interesting things going on at once. A triangle has been broken to the upside, and a hammer has been formed as well. The 1.15 level seems to be putting a cap on this pair for the time being, but the pair looks like it wants to go higher. It might simply be a move by proxy as the SNB still sits below. A break below the hammer turns it into a "hanging man", and is very bearish. A close on the daily chart above 1.15 gets us very bullish.

The EUR/USD pair is currently stuck just under the 1.45 level. The area looks like it is going to be very difficult to best. However, the Fed announcement this Friday from Jackson Hole, Wyoming will be listened to closely for any hints of "QE3" out of the US. If there is, the EUR/USD pair should finally break above that mark. If not - this pair could fall. More than likely, this market will be very tight until that news conference.

Published on 24th of August 2011
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