EUR/CHF 4H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Since the pair reached the 1.2178 mark at the end of July it has been on a constant down-trend, meanwhile forming a bearish channel. Now EUR/CHF is nearing the upper boundary of the down-trend; therefore, the 100-period SMA at 1.2079 is likely to be tested. However, the technical studies are mixed and none of them are sending clear signals. At the same time an overwhelming majority of the SWFX traders are expecting the Euro to outperform the Swissy, namely 74.58% of them. Thus, a bullish break-out is possible; although, the 1.21 level will be though to beat.
© Dukascopy Bank SA
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