USD/CHF – 1H – SELLBesides a ‘Double bottom chart pattern’ chart layout is detected. The chart forms ‘Double bottom chart pattern’. which is a positive chart scenario. The currency pair is likely to go up.
The combination US Dollar/Swiss Franc (USD/CHF) moves from the ascending trendline down.
The bearish trend down to the next support line at 0.79438 is considered certain.
Caution: A possible counter-trend in the direction of resistance at 0.79674 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Latter Bottom’ chart pattern is detected. The candles form ‘Latter Bottom’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Latter Bottom’ heading up is 56% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.80821 |
| 2nd High | 0.79873 |
| Next High | 0.79674 |
| Current Price | 0.79649 |
| Next Low | 0.79438 |
| 2nd Low | 0.79044 |
| 3rd Low | 0.79009 |
0.79592 – 0.79674 – 0.79408 – 0.79438 – 0.79044 – 0.79009 —
0.79521 – 0.79631 —
52.819025690689 – 57.408030687997 —
– —
0.79592 – 1767733200
Trading Signals: FOREX – USD – USD/CHF – CHF – Latter Bottom – Double bottom chart pattern – – – – – – – –