Technical Analysis

EUR/CHF 4H Chart: Possible Reverse

Typography

After approaching the upper boundary of a dominant channel down , the Euro began depreciating against the Swiss Franc.

The EUR/CHF pair is gradually moving upwards to test the upper boundary of the junior pattern.

In general, two scenarios are likely during the following trading sessions. First, the currency pair might breach the upper boundary of the junior pattern, but this surge could be stopped by a resistance cluster near 1.1620. Second, the rate could reverse from 1.1534 to re-test the lower boundary of the dominant channel.

Author: Dukascopy Swiss FX GroupWebsite: http://www.dukascopy.com/
Dukascopy Swiss FX Group
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
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