EUR/CHF 1H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
A 85-bar long rising wedge pattern was formed by EUR/CHF on November 16. Currently, the pair is vacillating between the pattern's resistance and the 200-hour SMA that acts as a strong support. According to the SWFX data, 59.21% of market participants are bullish on the pair, implying that despite a slight decline after a stab to the pattern's resistance, the pair has a potential to recover before long. Meanwhile, technical indicators are neutral for short and long terms but call for an appreciation in the medium term.
© Dukascopy Bank SA
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Thu, 28 Nov 2013 07:16:46 GMT

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