• 1 day Low Prices Plague Beleaguered Lithium Miners
  • 2 days Is This The Big Biotech Bust?
  • 2 days Funding Is The Biggest Hurdle For Clean Energy
  • 3 days Walmart Reaches Out To Chilean Government For Protection
  • 3 days The Most Exciting Gold Find Of The Decade
  • 3 days Mining Boom Sparks Deforestation Concerns
  • 4 days The Cannabis Culling Has Wall Street Disappointed
  • 4 days Vigilante Offers $100,000 Bounty To Hack Banks
  • 5 days The Dairy Industry Is Dying
  • 5 days The Most Impressive Electric Vehicle Of The Year
  • 6 days Gold Miners Are Having A Stellar Second Half
  • 7 days How 3D Printing Is Turning Each And Every Industry On Its Head
  • 7 days Is The $3.5 Trillion Healthcare Industry About To Get Much More Transparent?
  • 8 days Gamblers Are Betting Big On Trump’s Impeachment
  • 8 days Even Banks Can't Answer Aramco's Trillion Dollar Question
  • 9 days Will Bezos Buy The Seattle Seahawks?
  • 9 days 6 Tech Trends Transforming The Travel Industry
  • 10 days Ousted Uber CEO Cashes Out $500 Million In Stock
  • 10 days Trump Prepares For Another Key Tariff Decision
  • 10 days The Free Money Bubble Is About To Burst
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Gregor Horvat

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for…

Contact Author

  1. Home
  2. Markets
  3. Other

USDCHF: Triangle Pointing To The Upside; Bullish Momentum Could Follow

USDCHF has been moving sideways since end of March. We see five price swings between two trendlines that reminds us on a triangle formation. That's a five wave A-B-C-D-E pattern that occurs in the direction of a trend, so it's a continuation formation that suggests more upside for USDCHF. In fact this bullish trend continuation may resume very soon after recent bounce from 0.9470 and towards the upper resistance line. Move from the last few days is sharp, so break above the trendline may not be far away which will confirm a bullish run for the USD against the Swiss Franc. We see 1.0000 coming, but then even 1.0300-1.0400 in months ahead.

USDCHF, Daily

USDCHF Daily Chart

USDCHF has finally broken to the upside, out of a downward channel that lift prices up to 0.9740 as expected. We see current leg as wave (3) of a new bullish impulse so more gains should follow ahead, especially after a wave four pullback that can take place in the next few sessions.

USDCHF, 4H

USDCHF 4-Hour Chart

A Triangle is a common 5 wave pattern labeled A-B-C-D-E that moves counter-trend and is corrective in nature. Triangles move within two channel lines drawn from waves A to C, and from waves B to D. Triangles are overlapping five wave affairs that subdivide into 3-3-3-3-3.

Basic Triangle Pattern:

Idealized Basic Triangle Pattern

 


If you like our trading ideas, you can visit our website at --> www.ew-forecast.com
Want to receive more insights like these, free? We'd be happy to email them to you. Join our mailing list >> http://goo.gl/0KctEr

 

Back to homepage

Leave a comment

Leave a comment