USD/CHF – 4H – BUYThe combination US Dollar/Swiss Franc (USD/CHF) breaks through the ascending trendline upwards
A continuation of the bullish trend up to the next resistance line at 0.91370 is expected.
Caution: A possible change in the direction of the support level at 0.89126 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Target of the current trend is 0.9137 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the resistance zone at 0.91370 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Three White Soldiers’ candlestick chart pattern is discovered. The candles show ‘Three White Soldiers’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.91370 |
| Current Price | 0.90760 |
| Next Low | 0.89126 |
| 2nd Low | 0.87354 |
| 3rd Low | 0.87008 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three White Soldiers