NzdChf is providing a beautiful set up at the moment. A classic symmetrical triangle is nearing resolution. The higher probability move is to the upside from here but I'm expecting some chop during May before we see any real break out. The huge impulsive move seen across Swiss Franc pairs in early 2015 suggests we need a retrace to test these levels that were brushed off within a matter of hours.

I already have an aggressive long in play but more conservative traders could wait for a daily close outside of the triangle before committing to the move. Looking for the 0.7 area by July.

Daily candlestick projection:


Weekly candlestick showing impulsive SNB decision:
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