USD/CHF has recently completed Uniform Triangle chart pattern identified by Autochartist on the daily charts. The Quality of this chart pattern is measured at the 4 bar level reflecting the slow Initial Trend (rated at one bar level), substantial Uniformity (6 bars) and low Clarity. Completion of this chart pattern continues the strong upward movement from the reversal low at 0.7072 (at point C of this chart pattern, from the 9th August of this year). The pair has recently reversed up from the combined support at point D, made out of the 38,2% Fibonacci Retracement of the upward leg of this Triangle as well as the round price level 0.7800. The pair then rose sharply through the upper resistance trendline of this Triangle with the Breakout strength measured at the maximum 10 bar level.


The pair is expected to rise further in the coming sessions toward the Forecast Area set between price levels 0.8879 and 0.9306. The lower boundary of the Forecast Area (0.8879) stands close to the strong resistance at 0.8850 which should be broken conclusively for the upward movement to continue.

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