USD/CHF – 30M – BUYThe pair US Dollar/Swiss Franc (USD/CHF) jumps from the descending trendline downwards
A continuation of the bearish trend down to the next support level at 0.91123 is expected.
Caution: A possible counter-trend in the direction of resistance at should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Bullish Belt Hold’ candlestick pattern is discovered. The chart shows ‘Bullish Belt Hold’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 0.91628 |
| Next Low | 0.91123 |
| 2nd Low | 0.91065 |
| 3rd Low | 0.90978 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bullish Belt Hold