EURCHF: Classic Bearish Patterns

٢٤ سبتمبر ٢٠٢٤

I noticed two bearish price action patterns on the EURCHF chart. On the 4-hour time frame, the price has broken and closed below the support line of a rising wedge pattern.

Additionally, on the 1-hour time frame, the market has breached the neckline of a head and shoulders pattern.

I believe the pair is likely to continue declining, with the next resistance level at 0.9382.