EUR/CHF 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Shortly after EUR/CHF plummeted below its 200-and 50-hour SMAs in mid-November it persistently followed a downward trend that represents a part of the 286-bar long channel down pattern started on November 26. The accelerating decline took the pair to an eight-month low, not far away from which the pair is faltering now. Market sentiment is moderately bearish, with 63.96% of traders betting on the depreciation of the pair. Technical indicators solidify the bearish outlook, pointing to a weakness in the short-to-long term.
© Dukascopy Bank SA
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