USD/CHF 1D Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
While a decent symmetrical triangle has been leading the uptrend in USD/CHF, April 2016 drew a new bullish pattern, namely – a slightly flattish channel up with the next target being 0.9557 which lies below. We see the next wave north breaking the triangle pattern around 0.9870 January or February 2017. With SMA pressures weighing from above to guide a short-term motion down, the general bullish future has been confirmed by a golden cross formation. We will look for tests of 0.9731 and 0.9666 before the bottom trend-line is reached. It is worth noting that the long-term surge could be ruined by the fundamental nature of the Dollar's movements stemming from a heated election environment.
© Dukascopy Bank SA
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Mon, 07 Nov 2016 12:54:05 GMT

EUR/JPY 4H Chart: Channel Up

The common European currency is surging against the Japanese Yen in accordance with an ascending channel pattern, as the currency exchange rate is approaching the resistance of October and September high level of 116.25. Although, in the recent months the currency pair has been bouncing around the 200-period SMA, which indicates that it might not break the resistance just mentioned,

Mon, 07 Nov 2016 07:31:17 GMT

EUR/CHF 4H Chart: Channel Down

Moving along the lines of a channel pattern, EUR/CHF entered a downtrend with short-term downside potential until 1.0734 which would then make levels underneath unattractive, sending the pair on yet another motion up. We will be watching 1.0804, 1.0738 and 1.0780 which will lead the pair to levels unseen since the Brexit vote and August 2015 before that. In case

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