EUR/CHF:Although the market has recently broken to yet another fresh record low by 1.1800, price action over the past few days is looking rather constructive and could in fact be warning of the formation of a material base. Longer-term and medium-term studies are certainly looking quite stretched and a very promising bullish outside week formation after setting record lows could very well offer the necessary catalyst to force the initial onset of a bullish reversal pattern. Additionally, the market looks to have broken back above some falling trend line resistance off of the April highs to further confirm evidence of bullish structural shift. From here, fresh upside is seen over the coming sessions beyond 1.2500, while setbacks should be well supported ahead of 1.2050.
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