USD/CHF 1H Chart: Rising Wedge

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
After tapping at the 1.03 level, which USD/CHF has been attending to once a year for several years already, the pair traded inside a channel down on the four-hour chart, but also managed to sketch a rising wedge on the hourly scale. The wedge now tells us that the upper boundary of the senior pattern is approaching and that the pair could reverse for a wave north even before the trend-line is reached. The bottom boundary of the wedge lies at 1.0011, and a break below will give out strong SELL signals, but the motion might be cut for an additional upwave later on.
© Dukascopy Bank SA
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