EUR/CHF 1H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Euro is appreciating against the Swiss Franc in a channel up pattern, as the currency exchange rate is once again confirming the pattern's upper trend line at 1.0885. However, the pair already confirmed the pattern's upper trend line for a second time on August 5, and it should have go down to the pattern's support line at 1.0853. In the meantime, daily aggregate technical indicators forecast a surge for the pair in the next four hours, and afterwards the rate will go back down, which is in accordance with the pattern. However, the upper trend line might be broken, as it poses little resistance due to the fact that it is not supported by any other resistance level.
© Dukascopy Bank SA
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Mon, 08 Aug 2016 12:56:03 GMT

AUD/CAD 1D Chart: Channel Up

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Mon, 08 Aug 2016 10:18:03 GMT

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