USD/CHF 4H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
USD/CHF has been in a distinct up-trend since mid-Jul, and, judging by the technical studies, the upward momentum is unlikely to weaken. However, since the trading range of the pair has been narrowing lately, there is a significant possibility of bulls soon becoming exhausted, as the pattern implies a potential reversal of the trend.
Nevertheless, right now the outlook is positive. USD/CHF is expected to break through the resistance at 0.91 and reach the upper trend-line of the pattern before undergoing a bearish correction. Meanwhile, the sentiment towards the pair is strongly bullish—as many as 70% of traders are currently holding long positions.
© Dukascopy Bank SA
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