Forecast:
At 1.2/1.2030 a strong level (Support) will be formed providing a clear signal for buy deals with the target seen at the 1.2270 level. Stop loss is to be placed below 1.1850.

History tends to repeat itself above the level of 1.2000 

Overview:

EUR/CHF: The market is still showing signs of strength following the break above 1.2000, now it could rebuy at the spot of 1.2030. Therefore, it will turn to a strong support. In such case, a stronger rise should be seen towards 1.2270 resistance for confirmation. Moreover, the trend is still above 50% Fibonacci retracement level, thus it will be a good sign to buy above 1.2 (rebuy at 1.2030), and sell below 1.1950.

Types of Analysis:

- Fundamental analysis: the Swissie is also quoted amid the promise to “buy unlimited euro” in order to support this market.
- Technical analysis: on a daily chart the level of 1.2 coincides with the golden ratio (61.8% of Fibonacci retracement levels), then it indicates a bullish market.
- Sentiment analysis: psychological level is at 1.2000, in this case one should be patient to keep the trade till the end.
- Money management: always invest 3% - 7% of the capital (composite) per all trades, always risk (stop loss) 1% - 5% of the capital per all trades, and always trade high risk ratio - trade at least 1/2.
- Period: long-term.
- Stop loss must be set at 1.1950.

If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com.