USD/CHF – 30M – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) moves from the ascending trendline down.
A bearish trend downwards to the next support at 0.89126 will persist.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.90016 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will persist. Target of the current trend is 0.90016 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 0.90016 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Inverted Hammer’ candlestick chart pattern is found. The chart shows ‘Inverted Hammer’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Inverted Hammer’ heading up is 65% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.90214 |
| Next High | 0.90016 |
| Current Price | 0.89832 |
| Next Low | 0.89126 |
| 2nd Low | 0.88984 |
| 3rd Low | 0.88161 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Inverted Hammer