EUR/CHF 4H Chart: Triangle

Being that EUR/CHF was unable to break neither through the support at 1.2167 nor through the resistance at 1.2394, the rallies and dips were becoming less and less pronounced, eventually resulting in appearance of the triangle pattern on the four-hour chart of EUR/CHF. At the moment the currency pair is right at the apex of the figure, meaning we are soon likely to witness increased volatility in the market. Judging by the technical indicators, most of which are bullish, it is the upper boundary of the triangle that should be breached. Additionally, an overwhelming majority of the SWFX market participants are presently holding long positions, namely 70% of them.