USD/CHF – 1H – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) moves from the bullish trendline upwards
A continuation of the uptrend up to the next resistance level at 0.89975 is considered certain.
Caution: A possible counter-trend in the direction of support at 0.89515 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Outside Up’ chart pattern is detected. The chart forms ‘Three Outside Up’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.90214 |
| Next High | 0.89975 |
| Current Price | 0.89825 |
| Next Low | 0.89515 |
| 2nd Low | 0.89172 |
| 3rd Low | 0.89171 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Up