USDCHF: Symmetrical Triangle

USDCHF, H2

USDCHF is navigating within a symmetrical triangle, sandwiched between the 0.8950 resistance and the 0.8920 support.

The price breaks above the DEMA and TEMA, while the RSI breaks below the 50-line.

If the price breaks above the upper trendline, the next target will be at the 0.8990 resistance.
However, breaching below the 0.8920 support will trigger a decline toward the 0.8870.

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Author: Timur Yurdagyul