EUR/CHF edges higher on the daily chart extending the bullish movement. Is trading in the green and looks determined to hit fresh new highs  because is located in the buyer’s territory. The bias remains bullish after the breakout above some important resistance levels, right now is pressuring another one.

Is strongly bullish and seems unstoppable on the short term, could climb above the 1.1500 psychological level in the upcoming days. Remains to see how long this upside movement will be because right now we don’t have any exhaustion signs, so a reversal is off the table.

The Euro continues to increase even if the Euro-zone data have come in mixed, the Spanish Unemployment Change was reported at -26.9K, higher versus the -66.5K estimate and versus the -98.3K in the former reading period. Moreover the PPI dropped by 0.1% in June matching expectations, unfortunately, the rate remains in the negative territory for the second consecutive month. Price rallied even if the Switzerland data have come in better today.

The CHF is under immense selling pressure on the short term, has registered a massive depreciation versus the USD as well.

Price keeps rallying on the Daily chart is looks determined to approach and reach the next upside target from the fourth warning line (WL4) of the major ascending pitchfork. Should increase after the amazing breakout above the fourth warning line (WL4) of the descending pitchfork.

Goes higher  after the retest of the second warning line (WL2), the first warning line (wl1) and the sixth warning line (wl6). Ignores all the upside obstacles, it has increased more than 490 pips since last week, this is truly an amazing rally and could continue because the Euro is very strong on the short term, has appreciated versus all its rivals.

You should stay away if you are not already long on this pair because right now we don’t have any trading opportunity, maybe we’ll have one if the rate will find a strong resistance and will start a corrective phase.