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Wake up, forex playas!

September is ending and you gotta get in your last pips before the month ends.

Check out the trend and triangle plays I’ve spotted on USD/CAD and USD/CHF!

USD/CAD: 1-hour

USD/CAD 1-hour Forex Chart
USD/CAD 1-hour Forex Chart

Triangle alert! USD/CAD is confined inside an ascending triangle that has 1.3420 as its ceiling.

Are we looking at an upside breakout in the making?

Before you buy USD/CAD like there’s no tomorrow, you should note that the 1.3400 area is a legit area of interest for the pair. This means that a downside breakout (“breakdown“) is still on the table for the dollar. Hey, not all ascending triangles end up with upside breakouts, ya know.

We’re almost at the end of the chart pattern so waiting for an actual breakout may be the best play for this one. A break above 1.3420 – 1.3450 could take the pair to the 1.3500 or 1.3600 levels.

Meanwhile, a break below the trend line support could drag the Greenback all the way to 1.3330 near the 200 SMA or even the 1.3250 previous area of interest.

USD/CHF: 4-hour

USD/CHF 4-hour Forex Chart
USD/CHF 4-hour Forex Chart

Remember that range play that we were checkin’ out last week?

Well, it looks like the bulls put in more effort into their reps! USD/CHF has broken above the range and has even reached the .9300 psychological handle before the bears had their licks in.

The currency pair is now back to the .9200 zone, which lines up with the broken range resistance and a 38.2% Fib move of the last upswing.

But wait, there’s more! As you can see, the 100 SMA has also recently crossed above the 200 SMA. Is USD/CHF about to see a longer-term reversal?

Buying at current levels would provide a good reward-to-risk ratio especially if USD/CHF ends up extending its uptrend.

Not interested in buying the dollar against the franc? You might want to wait until the dollar makes new weekly lows before you aim for inflection points inside the broken range.

Forex Chart Settings:

Slow Stochastic: 14,3,3
100 SMA: Blue line
200 SMA: Red line