Consolidation at Support Line on EUR/CHF W1 — March 7th 2010

The long-term support line formed at a weekly timeframe chart of the EUR/CHF currency pair now holds even more strength as the price has shown a very interesting trend consolidation pattern during several last weeks. As you can see on the chart the currency pair remain in a fading bearish downtrend with each new candle smaller than previous. A weekly close below the support line may signal a strong downtrend tendency, while the sudden jump in the price rate may be considered as a beginning of the long-term upward trend. Click on the image below to see the full-size chart:


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