Sasha Singh
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USDCHF : Rising Wedge Giving Bearish Signal

A rising wedge pattern on USDCHF 4 hour chart is giving a bearish signal. The pair might break down from the support trend line of the wedge as the consumer sentiment report also missed the economic expectations. 

University of Michigan reported that U.S. consumer sentiment fell in March. Seems like consumer are pessimist about the economic growth in coming months. The sentiment index went down to 80 from the reading of 81.6 a month before missing the economist’s expectation for a decline to 80.6. 

From the Stochastic oscillator also the trend seems bearish as the signal trend line is above the moving average line signalling the continuation of downtrend.