USD/CHF – 1H – BUYThe combination US Dollar/Swiss Franc (USD/CHF) breaks through the ascending trendline upwards
A continuation of the upward movement up to the next resistance level at will continue.
Caution: A possible reversal of the trend in the direction of the support line at 0.88984 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend will continue. Current target is 0.89483 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of resistance at is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Outside Up’ candlestick chart pattern is discovered. The candles show ‘Three Outside Up’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 0.89643 |
| Next Low | 0.88984 |
| 2nd Low | 0.88161 |
| 3rd Low | 0.88106 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Up