- EUR/CHF confirms its downside breakout from a triangle pattern.
- Given the bearish market action prior to the triangle formation, it may be bearish.
EUR/CHF cements its bearish breakout from a triangle pattern and declines.
It has now dropped below the confirmation level for the pattern at 0.9339, the November 13 low, and thus likely confirms further weakness to the next downside target at 0.9132, the 61.8% Fibonacci extrapolation of the lower high of the triangle.
EUR/CHF Daily Chart
A bearish trend prior to the formation of a triangle (from May 27) further points the odds in favor of a downside evolution.
The post EUR/CHF Price Forecast: Downside Breakout from Triangle Confirmed appeared first on Online Broker AMarkets.
