EUR/CHF 4H Chart: Channel Down

For the past two days the price has been clinging to the upper boundary of the pattern and refused to leave its vicinity. Nonetheless, as long as the resistance zone at 1.2214 stays intact, the Euro is supposed to slide down to the lower falling line at 1.2090 eventually. In the meantime, the SWFX sentiment is heavily bullish towards EUR/CHF—as many as three our of four market participants are currently holding long positions on the currency pair.