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USD/CHF Bullish Wedge FAILED Pattern is Bearish

USD/CHF Bullish Wedge FAILED Pattern is Bearish

2016-06-07 18:58:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USD/CHF Bullish Wedge FAILED Pattern is Bearish

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The last update noted that “USD/CHF broke through the wedge so the ‘major advance’ may be underway.” The break through former wedge resistance signals a failed bullish pattern. Failed bullish patterns are viewed in a bearish context. Given this long term chart, USD/CHF is in trouble.

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