EUR/CHF 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
In the end of October, the single currency started to depreciate sharply against the Swiss Franc, shaping a channel down pattern. An accelerating decline took the pair to two-week low reached a couple of hours ago. The downside pressure is likely to stay in place as 55.25% of traders bet on further decline of the instrument and technical indicators point to a weakness in the nearest term. In case these expectations materialize, the currency couple is likely to continue vacillating within the pattern unless selling pressure abates.
© Dukascopy Bank SA
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Tue, 05 Nov 2013 07:24:47 GMT

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