EUR/CHF 1D Chart: Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
At the moment EUR/CHF is attempting to break out of the symmetrical triangle it has been actively forming since the beginning of January. The currency pair is eroding the upper edge of the pattern 1.22, which consists of the down-trend line and monthly PP. If it succeeds, the rally will most likely extend at least until 1.2250. There, however, the Euro is going to hit a cluster of resistances, namely Apr 4 high, monthly R1 and 200-day SMA. And while this scenario is not supported by the technical indicators, the SWFX market seems to be in favour of such a course of events, being that as many as 73% of the traders are currently holding long positions on EUR/CHF.
© Dukascopy Bank SA
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Mon, 12 May 2014 12:32:25 GMT

GBP/NZD 1H Chart: Channel Down

While the most recent fluctuations, as discussed earlier today, could be viewed as a bullish channel, the overall outlook on the hourly chart of GBP/NZD resembles a bearish channel. Accordingly, we would expect the currency pair to respect the falling resistance trend-line and then head through the nearest supports, such as the 200-hour SMA, weekly pivot point and May 6

Mon, 12 May 2014 07:15:09 GMT

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