EUR/CHF 4H Chart: Triangle

EUR/CHF is still trading between the boundaries of the triangle pattern, but risks of an upside confirmation are rising. Several important support lines are located below the spot price at the moment, while there are only few resistances left and all of them are placed above the pattern upper trend-line. Therefore, our outlook with respect to the Euro's cross against the Swiss Franc is quite positive. Moreover, our ideas are shared by 4H and weekly technical indicators, as they see the pair higher both in short and long term. On the contrary, 62% of SWFX market participants are holding short open positions. However, a formidable demand area at 1.08 is unlikely to give up easily.