EUR/CHF 1H Chart Emerging Pattern: Channel Up

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USD/CHF 1H Chart

Emerging Pattern: Rising Wedge

USD/CHF has formed a Rising Wedge pattern on the 1H chart. The pattern has 76% quality and 83% magnitude in the 116-bar period.

The pattern began on 15th of April when the pair peaked to 0.9328; at the moment pair is posing to test pattern’s support and is trading at the Bollinger band at 0.9337; the gap between the pattern’s support and the pattern’s resistance narrows by 90 pips in 100 bar period. Trading volume seems to be holding in the same level in the length of the pattern. Technical indicators on aggregate point at appreciation of the pair on 4H horizon. Long traders could focus on the daily pivot (PP)/20-day SMA/20-bar SMA at 0.9344/50, Bollinger band at 0.9365, daily pivot (R1) at 0.9373 and pattern’s resistance at 0.9385.

Technical indicators on aggregate point at depreciation of the pair on 1D horizon suggesting it should breach the pattern downwards. Short traders could focus on the cluster of support levels at 0.9322/05 (100 and 200 day SMAs, daily pivot (S1) and 200-bar SMA) and daily pivots at 0.9289 (S2) and 0.9261 (S3).


EUR/NZD 1H Chart

Emerging Pattern: Ascending Triangle

Last 249 bars oscillation of the currency pair was bounded by a formidable resistance area at 1.5577 and a rising support line. At the moment EUR/NZD is approaching an apex of the Ascending Triangle, but the market remains undecided—the share of long and short positions are equal. However, technical indicators suggest emergence of a rally in the future.


CAD/CHF 1H Chart

Emerging Pattern: Ascending Triangle

Following a precipitous fall from 0.9220 down to 0.8986, the price made an attempt to recover, but the surge was halted at 0.9113, resulting in a formation of an Ascending Triangle. Just recently this resistance was reinforced by the 200-bar SMA. Nonetheless, 7 out of 10 SWFX retail market participants believe the Canadian Dollar is going to outperform the Swiss Franc.


EUR/CHF 1H Chart

Emerging Pattern: Channel Up

There was a short-term pattern spotted on a 1H chart of EUR/CHF, which right now is only 36 bars long, although both bullish trend-lines could be potentially extended back to Apr 17. Technical indicators for the time being are largely mixed, but a considerable portion (71%) of traders expect continuation of the upward movement.