USD/CHF – 30M – BUYThe pair US Dollar/Swiss Franc (USD/CHF) jumps from the bullish trendline down.
A descending movement down to the next support line at 0.90224 will continue.
Caution: A possible trend reversal in the direction of resistance at 0.91045 could be enabled.
Consider stop-loss settings accordingly.
Correction of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend will continue. Target of the current trend is 0.90994332 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of resistance at 0.91045 could be enabled.
Consider stop-loss settings accordingly.
Then a ‘Three Outside Up’ candle pattern is existing. The chart forms ‘Three Outside Up’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91243 |
| 2nd High | 0.91074 |
| Next High | 0.91045 |
| Current Price | 0.90733 |
| Next Low | 0.90224 |
| 2nd Low | 0.90081 |
| 3rd Low | 0.90022 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Up