EUR/CHF 1H Chart: Channel Down

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
Being unable to sustain a recovery beyond the 200-hour SMA, EUR/CHF commenced a down-trend that persists until now. At the moment the price is probing the lower boundary of the corridor at 1.2236, this support is also reinforced by the daily S2 level. Accordingly, there is a high probability that the currency pair will start a bullish correction, which is likely to end at 1.2263, the current location of the daily PP and the down-trend resistance line. However, the sentiment of the market is overwhelmingly bullish—74% of positions are to benefit from Euro's appreciation relative to the Swiss Franc.
© Dukascopy Bank SA
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Fri, 06 Dec 2013 14:54:53 GMT

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Fri, 06 Dec 2013 14:54:36 GMT

AUD/USD 1H Chart: Channel Down

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