USDCHF has broken out of the descending trendline where it also re-tested last week. This is highlighted by the yellow boxes which indicates bullish momentum can be anticipated.
Currently Price is about to break that dark grey box and should it break, Im looking for around a 150pip gain trade with a expected target of around .9660
symmetrical ABCD triangle. comes into confluence with 11000 level. AB=CD to the pip. also aligned with 161.8 fib extension. with that said D=(B+A)/C
downside target 9488
Market is still in consolidation between two historically relevant and very strong structure lines.
Once the market breaks, I'm expecting it to dive or rally to the nearest structure level. Either way, both trades have a very healthy risk:reward ratio.
Whatever you do, wait for the retest of the consolidation area. Do not get faked out. Wait for the retest then...