The price has been hovering around 0.9146 for more than two months since June 18th. The chart shows that the fluctuations shrink and go flat; this pattern is known as a rising triangle. Usually, a rising triangle is a breakout signal with the direction upward. So, will the price break up on the USDCHF?
Here we can see that the MACD already made a bullish cross, and the angle becomes more significant, which is a strong bullish signal. We can find the same result on Bulls power; it stays positive, and we can see waves go up continuously. Also, the Standard deviation is going up from a low level, which means the big fluctuation is on the way; this looks like a breakout signal. Ichimoku is going up; however, the price is already beyond the cloud, which means the signal of Ichimoku is still bullish. Bollinger Bands just shrunk; a breakout is already on the way. Keep your eyes on this pair, let’s wait for the breakout to come.
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