USD/CHF: 1-hour
Check out this ascending triangle pattern on USD/CHF’s 1-hour forex chart! The pair is currently testing the triangle support around the .9600 major psychological mark and may be due for a bounce back to the top at .9700. Stochastic is already indicating oversold conditions anyway, which means that dollar bears are tired and that bulls might take over. However, a downside break is still possible if bears don’t give in so easily and this might take USD/CHF lower by as much as 300 pips, which is the same height as the chart pattern. Make sure you review our lesson on How to Trade Triangle Patterns if you wanna play this one!
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