USDCHF Falling wedge pattern
USDCHF has been in a bearish decline after breaking the 0.9900 support level. This came following the larger descending triangle pattern. The downside target was 0.9500, but price action is showing signs of a reversal.
The reversal patterns comes on the descending wedge which is still evolving. So far, three contact points have been made. Expect a near term gain and then a decline back to 0.9615 region.
Taking long positions here with stops at 0.9545 gives a good RR, targeting 0.9900 where resistance could develop.
Alternately, a break down below 0.9545 could signal a decline down to 0.9500 which will complete the descending triangle pattern.
The reversal patterns comes on the descending wedge which is still evolving. So far, three contact points have been made. Expect a near term gain and then a decline back to 0.9615 region.
Taking long positions here with stops at 0.9545 gives a good RR, targeting 0.9900 where resistance could develop.
Alternately, a break down below 0.9545 could signal a decline down to 0.9500 which will complete the descending triangle pattern.
Dagangan aktif
Entry price is hit.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.