USD/CHF: 4-hour
Don’t look now but USD/CHF just broke below the bottom of the descending triangle on its 4-hour forex chart! This could be a sign that the pair is in for more losses, as sellers have finally gained enough energy to push USD/CHF in their desired direction. If you missed the actual breakout move, don’t fret because the pair could still be in for a 600-pip drop, which is approximately the same height as the chart formation. If you’re a little more patient, you could wait for price to pull back to the broken support area to hop in at a better price. Stochastic is moving up anyway, hinting that a quick bounce might happen.
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