USD/CHF – 1H – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) jumps from the ascending trendline up.
A continuation of the upward movement up to the next resistance at 0.89975 is certain.
Caution: A possible reversal of the trend in the direction of the support level at 0.89172 is also possible.
Consider stop-loss settings accordingly.
In addition a ‘Three Outside Up’ candle pattern is found. The candles show ‘Three Outside Up’. which is a bullish chart scenario. The currency pair is likely to go up. 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 | 0.90214 |
| Next High | 0.89975 |
| Current Price | 0.89311 |
| Next Low | 0.89172 |
| 2nd Low | 0.89171 |
| 3rd Low | 0.89144 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Up