EUR/CHF 4H Chart: Rectangle

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
A dive to a four-month low in the very end of September was a starting point of the rectangle pattern formed by EUR/CHF. The pair entered the pattern from below and has touched its boundaries for four times already. Now the currency couple is faltering above its 50- and 200-bar SMAs and is expected to advance by traders who are bullish in 62.44% of cases. However, the death cross that is likely to occur before long given that 50-bar SMA almost fell below 200-bar SMA may defy traders' expectations. At the same time, technical indicators are neutral in the short-term and bearish in the longer time frame.
© Dukascopy Bank SA
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