Pattern RadarThe intraday downtrend across the 30 and 60 minute charts has been slowing as Asia approaches. The Monday session for the USD/CHF showed the franc gaining on the dollar throughout the session due in no small part to an inactive Swiss National Bank. The pause now offers a chance to consider what the next move for the pair will [...]
The USD/CHF has found buying support off the 1.0280 area as prices have twice dipped to that area with 1.0272 and 1.285 lows. The low touchpoints created the support for the Continuation Triangle formation on the 60 minute chart. The current price action however seems to want to head higher and test the downtrend line resistance and potential breakout level [...]
The intraday USD/CHF has been volatile on the shorter intraday time frames like the 15, 30, and 60 minute charts. The trend shifts have been quick and this type of environment having an understanding of where selling pressure and buying support are is invaluable. The 30 minute USD/CHF break higher through a downtrend line break [...]
The 60 minute USD/CHF is transitioning to a sideways market but has not quite made it to an accumulation cycle. Thinking proactively however, the Continuation Triangle could be a potential set up to watch if prices continue to trade within a range.
Prices are being squeezed into a range as the downtrend line resistance (C) and [...]
Trading any pattern without consider the underlying trend is simply not effective. Autochartist addresses this with the Initial Trend indicator. This is a part of the three indicators that together give
the overall quality of the pattern but do not mistakenly believe that the Initial Trend should always be high. It all depends upon the pattern type: trending versus non-trending.
The [...]
The USD/CHF broke out of a Continuation Triangle pattern. The chart shows the Complete Pattern alert with the Forecast Region (B) resistance.
The Forecast Region can be considered a valuable area of resistance in this set up because the triangle breakout has ushered in the early stages of a mark up cycle. Consider that now the uptrend line is now
a [...]
Prices has been squeezing into symmetrical triangles on the 60 and 240 minute charts as the USD/CHF congests between 1.0800 and 1.0700. The range is narrowing as prices travel deeper into the triangle and a potential breakdown trigger is nearing on the 60 minute time frame.
The Initial Trend is a little higher than would be [...]
The 240 minute chart, an intermediate intraday time frame has broken out of congestion within a Continuation Triangle. The breakout pierced the downtrend line resistance during the 4:00am EST candle and has a projected Forecast Region of between 1.1480 to 1.1570. This resistance level will also factor in the 1.1500 psychological level that will [...]
The USD/JPY is trading above the 98.00 level and with the Dow up over 100 point pre-market, there is little reason to think that the climb will not follow-through. The 8:30am EST Jobless Claims number will be
a factor that could shake things up though so there is something that the market is waiting on to [...]
The U.S. Dollar has broken uptrend line support again and is sitting on the vital support level that will likely determine whether the weakness will continue. As the dollar finds buying support at the 84.50 area the USD/CHF has been trending lower as the franc strengthens against the dollar.
The Continuation Falling Wedge pattern alert reflects [...]