Daily Forex Update: EUR/CHF0
AutoChartist | Mar 19, 2014 04:11AM ET
EUR/CHF continues to rise inside the Triangle chart pattern that was earlier identified by Autochartist on the daily charts – as you can see from the following trade opportunity alert for this currency pair. EUR/CHF is expected to break this Triangle and to rise to the target level 1.2216 in the next 3 trading days. The stop-level for this forecast is set by Autochartist at the last pivot point of the lower support trendline of this chart pattern – 1.2123 (point A). The bottom of this Triangle formed when the pair reversed up from the support level 1.2120 (which also previously reversed the price sharply up in last March, as you can see below).
The following weekly EUR/CHF chart shows the previous price action close to the support level 1.2120:
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