USD/CHF 4H Chart: Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The 88-bar long triangle pattern formed by USD/CHF originated not far away from a three-year low of 0.8698 hit in mid-March. Despite being relatively short, the pattern has both quality and magnitude above average.
Several hours earlier, the pair broke out of the pattern and now is trading below the lower limit and the 200-bar SMA at 0.8826. A dive beneath these chief support levels has not resulted in a sharp decline yet. Notwithstanding this, USD/CHF is likely to overcome its reluctance to drop before long as over 55% of traders at the SWFX hold short positions.
© Dukascopy Bank SA
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