EUR/CHF 4H Chart: Bulls could continue to prevail - Trade Pattern Ideas - Dukascopy Bank

Thu, 24 Oct 2019 05:58:55 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyBuySell
SAR(0.02;0.2)BuyBuyBuy
Aggregate

The common European currency has been edging higher in an ascending channel pattern against the Swiss Franc since the beginning of October. The currency pair has surged by 1.42% in value since October 10.

Technical indicators suggest that the EUR/CHF exchange rate will most likely continue to extend gains in the nearest future. Bulls are likely to target the upper boundary of the channel pattern at 1.1099 during next week's sessions.

However, the weekly R1 at 1.1050 could provide resistance for the currency exchange rate in the shorter term.


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