FX.co ★ USD/CHF symmetrical triangle to explode soon

USD/CHF Sideways Movement!

The USD/CHF pair is moving somehow in range. It's located at 0.9256 at the time of writing, right below the downtrend line which represents an upside obstacle. The price registered strong growth after testing and retesting the uptrend line.

As you already know from my previous analysis, only stabilizing below the uptrend line and dropping below the 0.9164 former low would have confirmed a larger drop. Technically, escaping from the current sideways movement, from the triangle pattern could bring great trading opportunities.

USD/CHF Trading Conclusion!

The USD/CHF pair could develop a larger growth if it passes above the downtrend line and if it jumps above 0.9278 former high. This scenario could bring new buying opportunities.