During a long period of time the large scale triangle pattern on the EUR/CHF was the main point of attention. However, as it has been already reviewed, the pair broke out to the upside.
Meanwhile, the aftermath of the break out has resulted in a medium scale channel up pattern taking the lead. Moreover, the currency exchange rate recently bounced off a strong support cluster, where the lower trend line of the just mentioned pattern made the final push.
In regards to the near future, the currency pair is set to hit the combined resistance of the weekly and monthly R1s at the 1.1780 mark.
Meanwhile, the aftermath of the break out has resulted in a medium scale channel up pattern taking the lead. Moreover, the currency exchange rate recently bounced off a strong support cluster, where the lower trend line of the just mentioned pattern made the final push.
In regards to the near future, the currency pair is set to hit the combined resistance of the weekly and monthly R1s at the 1.1780 mark.
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The common European currency has been in the spotlight recently, as the currency has reached long unobserved high levels. This event can also be observed on the EUR/CHF rate’s charts.
During the surge the pair broke previously mapped channels, extending the gains more than it was expected and pressing for a full review of the pair.
In general the rate has hit a combined resistance of two long term ascending channel patterns and began a decline.
The decline has taken the form of a narrow channel down pattern, which is set to encounter a lot of support, which means that the fall of the Euro against the Franc might soon end.
The common European currency has been in the spotlight recently, as the currency has reached long unobserved high levels. This event can also be observed on the EUR/CHF rate’s charts.
During the surge the pair broke previously mapped channels, extending the gains more than it was expected and pressing for a full review of the pair.
In general the rate has hit a combined resistance of two long term ascending channel patterns and began a decline.
The decline has taken the form of a narrow channel down pattern, which is set to encounter a lot of support, which means that the fall of the Euro against the Franc might soon end.
The Euro against the Swiss Franc was sort of a mystery, when one looked to notice medium scale patterns. The situation has changed, as during the last review the medium scale was charted.
The currency exchange rate is trading in a medium ascending channel pattern, which is set to move the currency rate slightly higher during the next months.
Meanwhile, regarding the short term, the currency pair is trading in the borders of two junior patterns. One of them is an almost horizontal channel up pattern, whose lower trend line is support by three additional support levels.
This support has forced the rate to begin e rebound, which is set to test various resistance levels just above the 1.17 mark.