USD/CHF 1H Chart: Falling Wedge

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
The recently-formed Falling Wedge pattern on the USD/CHF 1H chart is moving closer to its lower boundary around 0.9030, passing the Daily S1 level at 0.9041 at the moment. Being a common feature for the present pattern, the trading range is decreasing along with the trading volume. We assume that the break-out may take place the next Tuesday, if the pair keeps moving with the recent pace. Statistically, in 68% of all times the break-out happens to the upside. This view is shared by market participants, as 74% of them are holding long positions. Weekly S1 at 0.9023 and the lower boundary of the pattern may support the pair and eventually push it to trade higher.
© Dukascopy Bank SA
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