Thursday, October 4, 2012

USD/CHF 4H Chart Rising Wedge - October 4, 2012

USD/CHF 4H Chart Rising Wedge - October 4, 2012


USD/CHF has formed a Rising Wedge pattern on 4H chart. The pattern has 69% quality and 55% magnitude in the 111-bar period.
The pattern started when the pair rebounded from 0.9608; currently it is trading at pattern's support at 0.9374; gap between pattern's support and resistance narrows by 30 pips in 100 bar period.
The RSI on 4H horizon send buy signal suggesting that pair might bounce from pattern's support or we might see a pullback if pair breaches it... Read more