EUR/CHF 1D Chart: Falling Wedge

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
Two overlapping patterns are guiding the motion in EUR/CHF and each of them gives out completely different signals. A falling wedge suggests that an upward breakout will take place and extend the rally into areas significantly above, while the Channel down provides bearish momentum and suggests that the weakness will persist. The pair has initiated an upwave which will most likely break 1.0703, the upper boundary of the wedge, either to target the channel upper boundary or post a conclusive break above the wedge and lead to a rally.
© Dukascopy Bank SA
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