empty
 
 
21.09.2021 04:08 PM
USDCHF back tests triangle break out.

Last week we mentioned several times the triangle pattern we noted in USDCHF and we also warned of a potential break out and where the target would be after the break out. The last couple of sessions price is pulling back in what it seems to be a back test.

This image is no longer relevant

Black lines -triangle pattern

Red line -support trend line

USDCHF is trading above the triangle pattern. The break out remains valid as long as price is above 0.92. At 0.92 we find both the red upward sloping trend line support and the upper triangle boundary. This is important support area. Back testing this area is justified and could provide a higher low and stronger upside momentum for bulls. We remain bullish USDCHF as long as it trades above 0.92.

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