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Mon, Mar 04, 2024

Symmetrical Triangle broken on USDCHF after long time
1 mins well spent

USDCHF starts to fall after a breakout

We are waiting for a long time for this symmetrical Triangle breakout (check the previous USDCHF analysis here), USDCHF has broken the bottom level of the triangle recently.

After market falling to the horizontal support zone 0.9590, it bounces back from the support price. however, USDCHF fails to reverse with buyers’ pressure.

In 1 hour chart, USDCHF has broken the bottom level of the Down Trend line and it’s retesting the breakout level now.

Down trend line broken and retest on USDCHF h1
Down trend line broken and retested on USDCHF h1

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