The EURPLN shows quite unclear situation:
The CHFPLN chart is not helping either:
Both currencies become more problematic to analyze. The pattern of LL & LH is not so obvious now and it's generally hard to say anything about current situation. Weekly downtrend has not been negated yet and odds favor the price fall.
We shall also consider trend reversal. The charts show the potential targets for upward breakout from symmetrical triangle formations. However, triangles usually form during a trend as a continuation pattern. Nevertheless, remember that currencies can be very surprising and chart patterns are not reliable here.
Not much else can be said - we have to wait for further movements and hope they clarify the situation.
Sources:
[http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:symmetrical_triangle]
20090415
15 years ago
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