empty
 
 
24.09.2021 02:29 PM
USDCHF back test of broken triangle

USDCHF is showing bullish signs after the back test of the broken triangle pattern. Usdchf recently provided a bullish signal by breaking out of the triangle pattern. It is common to see price back test the upper triangle area after such break outs. This is exactly what happened here.

This image is no longer relevant

Red line -short-term support trend line

Black lines- triangle pattern

USDCHF is showing bullish signs by holding above the red upward sloping trend line and by not entering inside the triangle again. Bouncing off the upper triangle boundary is a bullish signal and we should expect the up trend to resume. Support remains strong at 0.92-0.9220 and as long as this level is respected, we remain bullish USDCHF.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback