💱 USDCHF - A triangle is forming, which could break the trend
USDCHF forms an ascending triangle.
After the retest of the uptrend channel support, the price acquires local resistance, which forms a "Triangle" pattern
TA on a high timeframe:
1) False breakout of resistance 0.91200 is formed, if bears increase their pressure, in this case the price will break the local support 0.90370 and will start its fall
2) The global trend is bearish, locally a bullish correction is formed, which may be stopped by the resistance at 0.91200
3) Price tends to the liquidity area 0.90500
Ta on the low timeframe:
1) A bearish triangle is forming.
2) Retest of the uptrend support may cause a support breakout, in which case the price may start its decline
3) There is a strong resistance formed in the market, if the price does not break it, it will continue its fall and change the local trend
Key support: 0.90370
Key resistance: 0.90670
After the retest of the uptrend channel support, the price acquires local resistance, which forms a "Triangle" pattern
TA on a high timeframe:
1) False breakout of resistance 0.91200 is formed, if bears increase their pressure, in this case the price will break the local support 0.90370 and will start its fall
2) The global trend is bearish, locally a bullish correction is formed, which may be stopped by the resistance at 0.91200
3) Price tends to the liquidity area 0.90500
Ta on the low timeframe:
1) A bearish triangle is forming.
2) Retest of the uptrend support may cause a support breakout, in which case the price may start its decline
3) There is a strong resistance formed in the market, if the price does not break it, it will continue its fall and change the local trend
Key support: 0.90370
Key resistance: 0.90670
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