CHFGBP, Major Ascending-Triangle, Ready for Completion, Targets!

Hello There!

Welcome to my new analysis of CHFGBP. Within recent times CHFGBP continued with forming a highly important formation in the whole formational structure as it managed to build up bullishly within the major areas of the structure. In this case, I have detected the most prevalent important signs and considerations to determine for CHFGBP and the upcoming price actions, therefore, I have analyzed the major factors in the analytics backend.

As when looking at my chart now CHFGBP has formed two important formational factors here. The first factor, CHFGBP continued with this major uptrend channel in which it has substantial support bouncing several times towards the upside. The second factor, CHFGBP is still bouncing above the 65-EMA as well as the 100-EMA being major support levels within this whole chart. Together these two factors are holding the bullish trend towards the upside and building the bullish base here.

The major formation within this whole chart is the main ascending triangle formation which is about to complete within the next times as CHFGBP continues to bounce within the ascending triangle formation this means that a final breakout above the upper boundary is likely to emerge within the upcoming times. Once this breakout has emerged as it is marked in my chart CHFGBP is going to set up the next wave-expansions towards the bullish direction. Especially as the solid bullish volume is building up here this breakout is likely to happen faster than thought about.

Taking all these factors into consideration here, once CHFGBP has completed the whole ascending triangle formation it is going to activate the upper target zones as they are marked within my chart, and especially depending on the momentum and volume with which CHFGBP actually emerges these targets can be reached in a major accelerated bullish volume spike. When this happens it increases the potential for a bullish continuation tremendously and CHFGBP is going to accelerate the further bullish dynamics above the initial target zones into the bullish continuation zone.

In this manner, thank you everybody for watching my analysis of CHFGBP. Support from your side is greatly appreciated.

VP

Comment:

UPDATE: CHFGBP is approaching the main structure supports determined by the 65-EMA and 100-EMA.

CHFGBP is likely to increase the important bullish volume from here on and finalize the upper boundary breakout in the next time.