Despite the very heavy option-related selling below 1.3000 which took the market as low as 1.2850, EUR/CHF has bounced back very impressively. When a market bounces hard despite being in a strong downtrend and despite heavy selling still occuring, then we may be close to a bottom.
Another point to keep in mind is that the flat trendline support in USD/CHF comes in at 1.0020.
All music to the ears of a contrarian like myself but I’ve been burned a few times already so I will proceed with caution.
