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EUR/CHF is trapped within a triangle pattern. An upside breakout from this pattern could activate a strong upside momentum. The pair moves sideways in the short term signaling that the downside movement could be over.
The ECB monetary policy meeting could be decisive tomorrow. This high-impact event could bring a clear direction. The European Central Bank is expected to maintain its Main Refinancing Rate steady at 0.00%.
EUR/CHF H4 Technical Analysis!
EUR/CHF has retested the ascending pitchfork’s lower median line (LML) and now is back above the weekly pivot point (1.0841). Making an upside breakout from this pattern could signal more gains.
The ascending pitchfork’s median line (ML) is seen as a potential upside target if EUR/CHF makes a new higher high. Actually, the price action has developed an Inverse Head & Shoulders pattern.
Jumping and stabilizing above 1.0868 high, which is seen as the neckline, validates an important growth.
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