USD/CHF – 1H – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) goes from the bullish trendline upwards
A continuation of the bullish trend upwards to the next resistance at 0.89745 will continue.
Caution: A possible trend reversal in the direction of the support zone at 0.89144 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Bullish Engulfing’ candlestick chart pattern is discovered. The chart forms ‘Bullish Engulfing’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.89745 |
| Current Price | 0.89343 |
| Next Low | 0.89144 |
| 2nd Low | 0.88984 |
| 3rd Low | 0.88161 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bullish Engulfing