Daily Forex Update: EUR/CHF
AutoChartist | Jul 15, 2014 03:20AM ET
EUR/CHF recently reversed up from the lower support trendline of the daily Rectangle chart pattern that was previously identified by Autochartist – as you can see from the following trade opportunity alert below. EUR/CHF is expected to rise to the target level 1.2239 in the next 9 trading days. Autochartist set the stop-level for this forecast at 1.2132. This point formed earlier, when the pair reversed up from the support zone surrounding the long-term support level 1.2140 (which has been reversing the pair from March of last year, as you can see on the second chart below).
The weekly EUR/CHF chart below shows the previous price action close to the support level 1.2140:
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