USDCHF formed a triangle pattern.

USDCHF is trading at 0.9151 right now. Price is mostly moving sideways over the last three months after the top in June around 0.9273. Price has formed a triangle pattern with lower highs and higher lows over this period since June. Traders could be patient and wait for a break out or trade in favor of the triangle boundaries.


Black lines - triangle pattern

USDCHF upper triangle boundary resistance is at 0.92 while the lower boundary support is at 0.91. Aggressive traders would go long near the lower boundary and short near the upper boundary. Less aggressive traders would prefer to trade this pair only when a confirmed break out occurs. My most probable outcome would be for price to break to the upside and reach 0.95.

The material has been provided by InstaForex Company -