EUR/CHF

[PipSafe]

Re: EURCHF

EUR/CHF was in a strong and consistent descending trend that sellers during this descending trend were successful in achieving the lowest price level of 1.21043. Currently in 4H time frame with formation of Ideal Doji candlestick pattern (formation of Doji candlestick patterns which shows indecision market for ascending or descending) price has been stopped from more descending and there is a possibility of formation of a bottom price and finally ascending of the price.

According to the formed movements in Daily time frame, between the top price of 1.24138 and bottom price of 1.21043 there is Three Driver harmonic pattern with ideal ratios of 127.2 and 127.2 that by completion of the 3 point in this pattern, there is warning for ascending of the price. Stoch indicator with the ascending cycle confirms the third point of The Three Drives Pattern and warns about the potential of ascending during the next candles. Breaking the descending trend line (made of 3 resistance level) in 4H time frame is the first important warning for ascending of price in current situation. Generally until the price level of 1.21043 is preserved, price will have the potential for reformation and ascending.
Written by the technical team of PipSafe Company

 

[PipSafe]

EUR/CHF was in a strong and consistent downtrend during the recent days that sellers were successful in obtaining the lowest price of 1.20490. Right now price is under 5-day moving weekly and daily time frames that show an downtrend during the next candles. With formation of bottom price of 1.20490 (formation of hammer candlestick pattern that shows Vulnerability of downtrend), there is a warning for formation of a successful bottom price and ascending of price in this supportive range. If this bottom price records (closing of ascending candle), this signal will be stronger.

According to the formed movements in price chart, there is Butterfly harmonic pattern between the top price of 1.22490 and the bottom price of 1.20490 that warns about ascending of price from D point. Stoch indicator in daily time frame is in saturation sell area ( also in divergence mode with the price chart ) and by the next cycle it confirms the harmonic D point and warns about the potential for ascending of price during the next candles.Right now the first important warning for more ascending of price in this currency pair happens by breaking the 1.20700 level in daily time frame .Generally until the bottom price of 1.20490 is preserved, the price has the potential for ascending from the harmonic pattern.

 

[PipSafe]

Re: EURCHF

EUR/CHF during the recent month was in a downtrend that sellers were successful in achieving the lowest price of 1.20090.With cashing of some sellers’ trades (formation of candlestick pattern such as Spinning top and Inverted Hammer in weekly time frame) the price ascends and currently with closing of bullish candle on 21th records the bottom price of 1.20090.As it is obvious in the picture below between the top price of 1.21766 and bottom price of 1.20090, there is AB=CD harmonic pattern with the ratios of 61.8 and 127.2 that warns about the potential for ascending of the price.

RSI indicator is in saturation sell area and in divergence mode with the price chart in daily time frame that confirms the bottom price of 1.20090 and warns about changing price direction.Generally according to the formed signs in price chart, until the bottom price of 1.20090 is preserved; price will have the potential for increasing and ascend.

 

[pixel]

The Swiss Central Bank's decision to rescind the peg to 1.20 CHF / EUR caused the franc to soar.
As all currencies are globally interconnected, the decision has mainly affected only the CHF, which jumped up to 30% against other major currencies, before settling at around 17-20%.

CHF over EUR



CHF over USD



CHF over AUD



However, the interrelation between other currencies has seen only minor ripple effects:
The Aussie gained less than a cent against the USD



and even against the Euro is it merely continuing to rise - a move that started a month ago.



The only other "beneficiary" of the SCB's move has been the price of gold. Given that Switzerland is hiding much wealth on behalf of foreign nationals, the rise of the CHF has caused the pog to mirror its rise to some degree. Both charts would now have to be watched in parallel.

 

[Dutchy3]

For those with a W1 outlook on EUR/CHF. Strong market and possible wave 4 on W1. Looking for D1 signal, might be strong too. This week or next.