USD/CHF – 30M – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) moves from the descending trendline downwards
A continuation of the downward movement downwards to the next support at 0.87354 is expected.
Caution: A possible counter-trend in the direction of the resistance line at 0.88530 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend is expected. Current target is 0.88278336 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the resistance line at 0.88530 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Three Outside Up’ candle pattern is found. The candles form ‘Three Outside Up’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88885 |
| 2nd High | 0.88794 |
| Next High | 0.88530 |
| Current Price | 0.88010 |
| Next Low | 0.87354 |
| 2nd Low | 0.87008 |
| 3rd Low | 0.86196 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Up