EUR/CHF 1H Chart: Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
After being in the down-trend during almost two months ended early July, EUR/CHF levelled off and by the middle of the month entered a symmetrical triangle that is circa a hundred-bar long.
The instrument now is vacillating in only a five-pips wide range and the trading area is likely to continue narrowing since the triangle trend-lines are due to converge a day later. Meanwhile, the direction of the looming exit still seems unclear. On the one hand, the pair is on the way of falling to the lower boundary of the pattern, on the other hand, the SWFX data reveals almost 70% of traders bet on appreciation of the pair in the hours to come.
© Dukascopy Bank SA
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