EUR/CHF 4H Chart: Falling Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
EUR/CHF has been forming a descending wedge since the beginning of 2016 on the daily chart, and is now making its way towards the bottom boundary of the pattern, but might be up for a demand as another falling wedge emerges on the hourly chart. The pair has just slightly overstepped the upper trend-line of the pattern already, meaning that the 200-period SMA might be a decent target now. Despite the breakout being a strong bullish signal for the wedge, we still see some risks from below that would come into play if the wedge turns into a channel down and leads the rate towards the senior bottom trend-line around 1.0580. However, a conforming strong surge above the current wedge would test the maturity of the senior pattern as well, meaning that bulls might take over in the long run as well.
© Dukascopy Bank SA
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