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.

26122016dailyfximage1

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.

26122016dailyfximage2

To subscribe to the e-mail alerts feature is quick and easy. Log into the Autochartist platform, click on ‘Alerts & Messaging’, enter your email address, select the market you want covered, select your language, and the time you want to get your report, and you’re done! You will now receive a quick morning technical outlook of the markets.

 

For further information on this and other Autochartist products visit www.autochartist.com

0 Likes
4106 Views

You may also like

Leave A Comment

Please enter your name. Please enter an valid email address. Please enter message.