USD/CHF – 30M – BUYThe combination US Dollar/Swiss Franc (USD/CHF) moves from the ascending trendline down.
A bearish movement downwards to the next support level at 0.90224 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.90959 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend broke the Fibonacci 0.79-Level.Continuation of the current ascending trend is likely expected. Current target is 0.91074 at the Fibonacci level 1-Level. Caution: A possible reversal of the trend in the direction of the resistance level at 0.90959 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three Outside Up’ chart pattern is found. The chart shows ‘Three Outside Up’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91074 |
| 2nd High | 0.91045 |
| Next High | 0.90959 |
| Current Price | 0.90921 |
| Next Low | 0.90224 |
| 2nd Low | 0.90081 |
| 3rd Low | 0.90022 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Up