Daily Forex Update: EUR/CHF

By: Dima Chernovolov

EUR/CHF continues to rise after the recent breakout of the Key Resistance level 1.0832, which was previously identified by Autochartist on the 4-hour charts. The Significance of this Resistance level is rated by Autochartist rates at the 4-bar level – which is the result of the four recent price reversals from this price level. EUR/CHF is expected to continue to rise toward the resistance level 1.0832 in the nearest time, which is also indicated by the next chart pattern shown below. 

As can be seen from the following chart, the above forecast is aligned with the longer-term continuation chart pattern Triangle – which was also previously identified by Autochartst on the daily EUR/CHF charts. Two different time-scale chart patterns aligned in one direction heighten the probability EUR/CHF will continue to rise tomorrow.

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