Bullish NZDCHF - 19 September 2023

EURUSD Forex

NZDCHF

Bullish Closed

A Price Action Ascending Triangle pattern formation on the 5 Min time frame chart supports NZDCHF Bullish bias. A break of 0.53198 will support the rise towards the target of 0.53223 the break of 0.53223 would push the price to 0.53240.

SUPPORT AND RESISTANCE LEVELS

Pivot Point 0.54381
Support S1: 0.54364, S2: 0.54355 , S3: 0.54338
Resistance R1: 0.5439 , R2: 0.54407 , R3: 0.54416

Summary

Instrument :

NZDCHF

Direction :

Bullish

Pattern Name :

Ascending Triangle

Probability :

52%

Entry Level :

0.53198

Activation Time :

2023-09-19 09:45

Age :

18 Bars

Progress :

100%

Close Time :

2023-09-19 11:10

Time Frame :

5 Min

Status :

Closed

CHART ANALYSIS

MORE SIGNALS

There are no signals right now

Ascending Triangle

An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trend line to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns. The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. There are instances when ascending triangles form as reversal patterns at the end of a downtrend, but they are typically continuation patterns.