Daily Forex Update: EUR/CHF
By: Dima Chernovolov
EUR/CHF continues to rise after the earlier upward reversal from the support trendline of the Falling Wedge chart pattern which was previously identified by Autochartist on the daily charts. Autochartist rates the Quality of this Falling Wedge at the 5 bar level – which reflects the average Initial Trend and Uniformity (both rated at the 5 bar level) and significant Clarity (7 bars). EUR/CHF is expected to rise in the direction of the upper resistance trendline of this Falling Wedge.
As can be seen from the PowerStats chart below, the entire daily Expected Price Range calculated by Autochartist for this currency pair (from 1.0694 to 1.0778) stands above the lower support trendline of this Falling Wedge – which increases the probability EUR/CHF will continue to rise inside this chart pattern tomorrow.
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