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The Swiss franc has always been recognized as a safe haven asset and in the aftermath of the S&P downgrade of the US on Friday and subsequent whipsaw moves in currency, equity and commodity markets many players are either making for the sidelines or for the safety of assets like the Swiss franc.
The Swiss Franc is trading on a strongly bearish tone on Thursday, which is boosting the otherwise weak Euro higher, sending the pair almost 600 pip highers so far today, bouncing from 1.0255, to reach day highs at 1.0810.
the pair and as we can see from the chart is trading under level 1.0500 , so , that's mean the down trend is still standing and the pair might head to 1.0460 and then 1.0430 how ever the pair made any hourly correction
The Swiss Franc has appreciated almost 56 percent against the Euro since October 2007, with approximately 17 percent of those gains coming in 2011 alone – gains once deemed unthinkable considering the burgeoning economic might of the European Union.
the pair and as we can see from the chart has closed it's daily candle above the level of 1.0800 , so , that's mean the up trend is still standing and the pair is heading to 1.0900 then 1.0950
The latest sharp reversal off of record lows just shy of parity is encouraging and could finally be starting to signal the formation for a major base
The Euro has bounced up strongly from 1.0685 support, and rocketed more than 300 pips higher in two hours, to retrace the whole Monday and Tuesday's retreat, and breach beyond 1.0990 to trade at fresh week highs beyond 1.1000.
the pair is trading now above the level of 1.1000 and that's mean the uptrend is still standing and the pair might reach 1.1050 , but if the pair succeeded in breaking 1.1000 , it will continue in down trend heading to 1.0950 and then 1.0900
Look for any setbacks to be well supported ahead of 1.0600, while rallies could now extend back above 1.1500 over the coming sessions. Weekly studies are also confirming with the potential formation of a very bullish bottom close.
we can see that the pair has closed it's daily candle above 1.1000 . so , that's means that up trend is expected and the pair might head to 1.1050 and then 1.1100 ,but also the hourly correction is expected before continue in the up trend