USD/CHF – 30M – BUYThe combination US Dollar/Swiss Franc (USD/CHF) goes from the descending trendline down.
A continuation of the downtrend down to the next support level at 0.90981 will persist.
Caution: A possible counter-trend in the direction of resistance at 0.91280 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Bullish Belt Hold’ candle pattern is found. The candles form ‘Bullish Belt Hold’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.91370 |
| Next High | 0.91280 |
| Current Price | 0.91246 |
| Next Low | 0.90981 |
| 2nd Low | 0.90224 |
| 3rd Low | 0.90081 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bullish Belt Hold