isarnil
Short

USD/CHF repeating pattern - break-down of ascending wedge?

FX:USDCHF   U.S. Dollar / Swiss Franc
Rising wedge from 2011 still decides the terms of trading, but the pattern is coming to an end. Throughout the entire pattern, 0.9980 have been a strong level of resistance, keeping the dollar down.

The recurring fractal seem to indicate two things:
1.an imminent bearish run of CHF/USD
2. (perhaps) a break-down from the ascending wedge .

Getting back with point of entry.

Comments

So Monday we're looking for a retracement before down move. If we close over 0.99300 I would start thinking about reverse H&S pattern forming and break upwards
Reply
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