Daily Forex Update: USD/CHF
By: Dima Chernovolov
USD/CHF continues to rise inside the uniform Triangle chart pattern which was previously identified by Autochartist on the daily charts. The overall Quality of this chart pattern is measured by Autochartist at the 3 bar level – which reflects below-average Initial Trend (4 bars) and higher Uniformity (6 bars). Higher Uniformity reflects the even distribution of the reversal pivots on which this Triangle is based – which increases the visibility of this chart pattern to the market participants.
As is visible from the following PowerStats chart – the upper boundary of the daily Price Range calculated by Autochartist for this currency pair (0.9836) stands near the upper resistance trendline of this Triangle – which adds to the probability USD/CHF will continue to rise inside this Triangle.
To subscribe to the e-mail alerts feature is quick and easy. Log into the Autochartist platform, click on ‘Alerts & Messaging’, enter your email address, select the market you want covered, select your language, and the time you want to get your report, and you’re done! You will now receive a quick morning technical outlook of the markets.
For further information on this and other Autochartist products visit www.autochartist.com