USD/CHF – 1H – BUYThe combination US Dollar/Swiss Franc (USD/CHF) goes from the ascending trendline down.
A bearish movement downwards to the next support at 0.87963 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 0.88894 is within the realm of possibility.
Consider stop-loss settings accordingly.
Next a ‘Matching Low’ candle chart pattern is discovered. The candles show ‘Matching Low’. 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 probability of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89574 |
| 2nd High | 0.88943 |
| Next High | 0.88894 |
| Current Price | 0.88518 |
| Next Low | 0.87963 |
| 2nd Low | 0.87952 |
| 3rd Low | 0.87008 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Matching Low