Bullish Wedge at USD\CHF, Channel at EUR\USD

An descending wedge can be seen at the USD\CHF pair right now, and its upper trend line was tested before so it is a strong one.

Ascending wedges are usually a bullish signal, meaning that price may break the upper trend line and change the direction upwards. However this is not so accurate chart patterns so we advise against taking signals and trading it.

In the EUR\USD we can see a Channel\Flag chart pattern, which means that the pair will continue upwards in its uptrend.

How to Trade: We will enter long trades on the lower trend line, with stop loss right below the swing low and will take profit on the opposite trend line. In case of breakout downwards we will enter a short trade on the pullback to the lower trend line.

This is one of the most reliable chart patterns so we will definitely take action on it.

Good luck and pips for all!