The break back above 0,8250 has validated a bullish reversal (cup&handle) which confirm a bullish outlook.
The announcement from the SNB (to set the Swiss Franc at minimum 1,20 against the Euro) has resulted in a sharp move to the upside. We expect a continuation of the bounce with a next important target at 0,90 as this fundamental catalyst coincides with a technical setup (oversold studies).
We might see some short term corrective moves (profit taking) but the market will eventually resume its bullish trend.
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