EUR/CHF 4H Chart: Falling Wedge

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Showing signs of a channel at some point, EUR/CHF eventually formed a falling wedge, suggesting that the pair will surge in the nearest future. This is a scenario consistent with rising demand of safe haven currencies, as a Trump victory in the US election brings pessimism into markets. A break above the upper trend-line of the wedge at 1.0818 will set eyes on 1.0825/27, opening the way to 1.0852 if broken. Such targets as 1.0867 and 1.0878 could also be in the picture, however, it is hard to tell how the markets will act in an extended period of time. Immediate support lies at 1.08804 and will be tested in case the pair takes a dip.
© Dukascopy Bank SA
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