EUR/CHF 4H Chart: Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The EUR/CHF pair is one of the least volatile currency crosses in the financial market. Nevertheless, there is a rather high possibility we will see a major spike in volatility soon, as symmetrical triangle on the 4H chart is moving to its apex. On May 8 both trend lines will converge, and a spike in trading volume will be a confirmation a breakout occurred. It is difficult to predict in which direction the pair will go after the penetration of any of the trend lines, but traders believe the scenario will be bullish, as more than 71% of opened positions are long. Additionally, a slight majority of all pending orders is placed to buy the single currency versus the Swiss Franc.
© Dukascopy Bank SA
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