USD/CHF – 1H – BUYThe pair US Dollar/Swiss Franc (USD/CHF) breaks through the ascending trendline upwards
A continuation of the uptrend upwards to the next resistance line at 0.89175 is considered certain.
Caution: A possible reversal of the trend in the direction of the support level at 0.88650 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is considered certain. Current target is 0.89175 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 0.89175 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three White Soldiers’ candle pattern is existing. The candles show ‘Three White Soldiers’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.89175 |
| Current Price | 0.88910 |
| Next Low | 0.88650 |
| 2nd Low | 0.87971 |
| 3rd Low | 0.87008 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three White Soldiers