USD/CHF – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is likely expected. Current target is 0.88671688 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the resistance level at 0.88794 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three White Soldiers’ chart pattern is existing. The chart forms ‘Three White Soldiers’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88894 |
| 2nd High | 0.88885 |
| Next High | 0.88794 |
| Current Price | 0.88488 |
| Next Low | 0.88262 |
| 2nd Low | 0.87963 |
| 3rd Low | 0.87952 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three White Soldiers