Friday, June 1, 2012

USD/CHF Trade Pattern 1H Chart Rising Wedge - June 1, 2012

USD/CHF Trade Pattern 1H Chart Rising Wedge - June 1, 2012


USD/CHF has been continuing its bullish trend and has reached the highest level since the beginning of 2012 while forming a Rising Wedge pattern on the 1H chart. The pattern has 74% quality and 48% magnitude in 64-bar period.

The pattern started when pair bounced from 0.9558 and after testing resistance levels at 0.9719 and 0.9735 it has slowed down at 0.971 where the pair is currently trading. Read more