traderscolo-en

EURCHF: the signal of the descending triangle

FX:EURCHF   Euro / Swiss Franc
As we can see, the price is making a descending triangle .
So, what could a descending triangle mean to us?
Usually, it could be a bearish signal. As we know, the price could break down from the bottom line of the triangle, however, this time, I have not seen any strong signal yet.
The MACD had gone down for a while, however, it just made a bullish cross recently. Now, it seems to go up.
The RSI is stable and in an upward trend, although the trend slope is mild.
These bullish signals could be for the temporary movement. The price is fluctuating inside the descending triangle . So, these bullish signals could reveal the fluctuation.
Let’s wait for more signals.

Comments

Nice analysis
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out