Daily Forex Chart Art - August 20, 2015


USD/CHF: 4-hour

USD/CHF: 4-hour


Here's a symmetrical triangle pattern on USD/CHF’s 4-hour forex chart. The pair just got rejected at the triangle resistance and might be poised for a move back towards support at the .9500 major psychological level and moving averages. The 100 SMA is currently below the 200 SMA, confirming that a selloff might take place, while stochastic is also on the way down. If you’re planning on shorting at market, just make sure you set your stop past the top of the triangle or recent highs at the .9900 major psychological level in case a quick pullback to the resistance happens. Just be ready for a potential breakout in either direction since this might last by around 700 pips.

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