EUR/CHF 4H Chart: Channel Up

The common European currency recently stopped its short term decline against the Swiss Franc, as it found support in a medium term ascending channel. However, the rate still should decline.

The reason for that is the fact that the currency rate has not met the lower trend line of the most dominant pattern. It occurred due to the last recent rebound against a dominant pattern, which represents a large scale descent to the just mentioned most dominant support line.

In general, the situation has to be watched, as it develops, as the rate might be stagnating due to the expectations of the ECB rate announcement.