USDCHF Triangle Nearing Completion?
Prepared by Jamie Saettele, CMT
The USDCHF is in the same position as the EURUSD. A bearish triangle should be considered at this point, especially since the trendline that extends off of the January and March highs has held. A drop under 8930 exposes 8760 and 8566. The spike into the 4/23 high and immediate reversal is typical action at the end of a triangle. The same could happen tomorrow closer to 9200/10 with NFP.