jamiekent123

USDCHF Descending Triangle Formation and Weekly Analysis

FX:USDCHF   U.S. Dollar / Swiss Franc
32 0 2
snapshot

USDCHF could be making a triple top on the chart which proposes opportunities for us - the traders. The top could be further confirmation of a descending triangle formation as price retraces upwards suggesting a possible brekout move to the downside.

A break of the upper diagonal would change the market structure, calling for another review of the chart.

Remain conservative with your targets as there have been inconsistencies with the relative lows in the triangle. Bullish divergence may also play a role here and a break of the upper channel is also a possibility.
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