USD/CHF – 1H – BUYThe pair US Dollar/Swiss Franc (USD/CHF) breaks through the ascending trendline up.
A continuation of the bullish trend up to the next resistance level at 0.88530 is likely expected.
Caution: A possible reversal of the trend in the direction of the support level at 0.87706 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 likely expected. Target of the current trend is 0.8848584 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the resistance level at 0.88530 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three Outside Up’ candle chart pattern is existing. The chart shows ‘Three Outside Up’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘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 | 0.88236 |
| Next Low | 0.87706 |
| 2nd Low | 0.87584 |
| 3rd Low | 0.87354 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Up