USD/CHF Triangle Breakout
Chart Prepared by Jamie Saettele, CMT
-The most recent remarks were that “contracting trade since March may compose a triangle, in which case USD/CHF will trade down to .9215-.9400 before finding support. The triangle line is near .9380 over the next few days.” USD/CHF ended up finding support above the ‘ideal spot of .9380 and is again approaching triangle resistance. The break above signals potential for a major advance.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.