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 theory. EUR/CHF Daily Chart(Click on image to enlarge)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. More By This Author:GBP/CAD Price Prediction: Pierces Below Confirmation Level For Rising Wedge GBP/JPY Gains A Lift After UK Consumer Price Data And Fall In Safe-Haven FlowsPound Sterling Price News And Forecast: Hot UK Inflation Challenges BoE Dovish Outlook
EUR/CHF Price Prediction: Falling Lower After Break Out From Triangle Pattern
