CAD/CHF 1H Chart: Rising wedge pattern in sight - Trade Pattern Ideas - Dukascopy Bank

Fri, 15 May 2020 12:35:55 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)SellBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)NeutralBuySell
SAR(0.02;0.2)BuySellBuy
Aggregate

The CAD/CHF exchange rate has been trading within a rising wedge pattern since the end of March.  

From a theoretical perspective, it is likely that the currency pair could continue to trade within the given pattern until the middle of June. Then, a breakout south could follow, and the pair could re-test the 0.6600 level. 

However, note that the rate is pressured by the 55-, 100– and 200-hour moving averages. Thus, the expected breakout south could occur sooner.


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