EUR/CHF Price Prediction: Falling lower after break out from Triangle pattern
Source Fxstreet
- EUR/CHF declines to new lows after breaking out of a Triangle pattern.
- It is likely to continue lower according to technical analysis theory.
EUR/CHF falls lower after breaking out of a Triangle pattern. It will probably continue to decline until it reaches the next downside target, which has been revised up to 0.9145 - 0.9150. This is the 61.8% Fibonacci extrapolation of the height of the Triangle lower, the target generated using technical analysis theory.
EUR/CHF Daily Chart
The bearish trend prior to the formation of the Triangle (Since May 27) further tips the odds in favor of a downside evolution.
Another potential support level and more conservative target is the key August 5 low at 0.9210.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Gold (XAU/USD) extends its recovery into a fourth day on Thursday, rising up into the $2,670s during the European session.
Crypto ETFs for XRP, SOL, and DOGE? The race heats upThe crypto Exchange-Traded Fund (ETF) race is heating up after the major success of Bitcoin spot ETF launch in the US. In a latest post, Nate Geraci, president of The ETF Store, suggested that the applications for Solana (SOL), Ripple’s XRP, HBAR, and even Cardano (ADA) or Avalanche (AVAX) ETFs are now in the mix
The crypto Exchange-Traded Fund (ETF) race is heating up after the major success of Bitcoin spot ETF launch in the US. In a latest post, Nate Geraci, president of The ETF Store, suggested that the applications for Solana (SOL), Ripple’s XRP, HBAR, and even Cardano (ADA) or Avalanche (AVAX) ETFs are now in the mix
Crude Oil prices are trying to break above $70 for a second consecutive day, fueled by headlines that Russia has launched a ballistic missile into Ukraine for the first time in the war, Bloomberg reports.
Bitcoin continues its record-breaking bull run, setting a new all-time high (ATH) every few days. The cryptocurrency recently surged close to the highly anticipated $100,000 milestone.
The S&P 500 started this year off on the right foot -- confirming the presence of a bull market -- and the good times have continued to roll from there for all three major benchmarks.
Related Instrument
