Swiss Toblerone?

Hi Everyone,

All pairs seem to be in a holding pattern – consolidating – this is good news for breakout traders!

Looking at the USDCHF, the pair dropped a bit this morning and is now making a descending triangle on the mid point between the S1 and S2 daily pivots (dashed grey line).

Everything still points to this being a short trade – all the RMO indicators are showing “sell” signals, MACD is below the line and all the moving averages are aligned.

If you switch onto a higher time frame (4 hour) you will notice there is a pocket of support at this current area with the absolute low at 1.0319.

Please remember to do your own analysis.

Regards,

TB