USD/CHF – 1H – BUYThe pair US Dollar/Swiss Franc (USD/CHF) jumps from the bearish trendline down.
A continuation of the downtrend down to the next support line at 0.90978 will persist.
Caution: A possible counter-trend in the direction of the resistance line at is also possible.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Shooting Star’ candle pattern is discovered. The chart forms ‘Shooting Star’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Shooting Star’ heading down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 0.91628 |
| Next Low | 0.90978 |
| 2nd Low | 0.90224 |
| 3rd Low | 0.90081 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Shooting Star