EUR/CHF 4H Chart: Triangle

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The pattern might not be perfect, but it implies that a move above 1.0950 or below 1.09 will likely be notably accelerated. In case of a break-out to the upside we will expect the Euro to appreciate to the level of 1.1050 francs. Most of the four-hour and weekly technical indicators are in favour of such a scenario.
Alternatively, should the exchange rate drop through the lower boundary of the pattern, we will consider the Sep 22 high at 1.0830 as the first main target, followed by the Aug 20 low at 1.0710. Meanwhile, the distribution between the long and short positions is more or less equal, but still slightly in favour of the bulls, who take up 55% of the market.
© Dukascopy Bank SA
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