EUR/CHF 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
A dive to an eight-month low in mid-December incited an accelerating climb of the single currency against the Swiss Franc that led to a formation of the channel up pattern. The pair has vacillated in the corridor for 80 hours and may remain bounded by two upward sloping lines in the foreseeable future as even a moderate bearishness on the market is not likely to suggest a breakout. About 63% of traders are bearish on the pair but the 50-hour SMA sitting right below the current level of the pair is likely to contain any downswing.
© Dukascopy Bank SA
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