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The US Dollar has been gaining in the short term against the Swiss franc. Will the bullish trend continue? Let’s look at these chart patterns to find out. |
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EUR/CAD and EUR/CHF views
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Today we focus on EUR/CAD and its related currency pair, EUR/CHF. (1) and (2) are both 60 minute chart patterns, namely a EUR/CAD falling wedge and a EUR/CHF channel up. (1) has broken through its resistance line (A) and (2) through its support line (B). Looking at these patterns, what could the short term outlook be for the two currency pairs? |
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How will the loonie perform in relation to the greenback? Let’s take a look at these three USD/CAD chart patterns to help determine the prospects.
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USD/CHF 60 minute price action
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Today we look at price action in the USD/CHF 60 minute time frame. (1), a rising wedge in that time frame, is 134 candles long. The wedge is approaching convergence between its resistance line (A) at1.0450 and its support line (B) 1.0340. The end of the chart pattern shows consolidation around 1.0400: In which direction will the pattern break? |
EUR/JPY short term forecast
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The above EUR/JPY chart and Fibonacci patterns display today’s short-term movement for this currency pair. All three patterns have high clarity readings, demonstrating good pattern quality. (1) is a 3-point extension Fibonacci pattern in the 15 minute time frame. (2), a 30 minute emerging channel chart pattern, is moving between resistance (E) at 129.80 and support (F) at 128.80. So what would the forecast be for EUR/JPY in the short term? |
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Information supplied courtesy of Autochartist. For further information on these and other chart patterns visit www.autochartist.com.
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Information and opinions contained contained in this video are for educational purposes only and do not constitute trading recommendations.
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