USD/CHF – 30M – BUYThe pair US Dollar/Swiss Franc (USD/CHF) breaks through the bearish trendline upwards
A bullish movement upwards to the next resistance at 0.87944 is certain.
Caution: A possible change in the direction of the support level at 0.87774 is within the realm of possibility.
Consider stop-loss settings accordingly.
Furthermore a ‘Bullish Engulfing’ candle chart pattern is detected. The chart shows ‘Bullish Engulfing’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88794 |
| 2nd High | 0.88530 |
| Next High | 0.87944 |
| Current Price | 0.87921 |
| Next Low | 0.87774 |
| 2nd Low | 0.87510 |
| 3rd Low | 0.87008 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bullish Engulfing