USD/CHF – 1H – SELLThe currency pair US Dollar/Swiss Franc (USD/CHF) moves from the descending trendline down.
A continuation of the downward movement down to the next support level at 0.76693 is considered certain.
Caution: A possible trend reversal in the direction of the resistance line at 0.77042 is also possible.
Consider stop-loss settings accordingly.
Besides a ‘Matching Low’ candlestick pattern is detected. The chart forms ‘Matching Low’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.77248 |
| 2nd High | 0.77176 |
| Next High | 0.77042 |
| Current Price | 0.76964 |
| Next Low | 0.76693 |
| 2nd Low | 0.76665 |
| 3rd Low | 0.76288 |
0.77042 – 0.77176 – 0.77248 – 0.76693 – 0.76665 – 0.76288 —
0.76985 – 0.77003 —
55.930735590777 – 56.419458042472 —
– —
0.77042 – 1771254000
Trading Signals: FOREX – USD – USD/CHF – CHF – Matching Low – – – – – – – – –