USD/CHF – 1H – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) moves from the bullish trendline down.
A descent down to the next support line at 0.90099 is expected.
Caution: A possible counter-trend in the direction of resistance at 0.90736 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three Outside Up’ candle chart pattern is found. The chart shows ‘Three Outside Up’. which is a positive chart scenario. The currency 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 | |
| Next High | 0.90736 |
| Current Price | 0.90296 |
| Next Low | 0.90099 |
| 2nd Low | 0.89843 |
| 3rd Low | 0.89126 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Up