USD/CHF – 1H – BUYThe pair US Dollar/Swiss Franc (USD/CHF) breaks through the descending trendline up.
The bullish trend up to the next resistance line at 0.88446 is likely expected.
Caution: A possible counter-trend in the direction of the support level at 0.88009 should always be considered.
Consider stop-loss settings accordingly.
In addition a ‘Three White Soldiers’ candle chart pattern is existing. The candles form ‘Three White Soldiers’. which is a bullish pattern 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 ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89175 |
| 2nd High | 0.88997 |
| Next High | 0.88446 |
| Current Price | 0.88454 |
| Next Low | 0.88009 |
| 2nd Low | 0.87971 |
| 3rd Low | 0.87008 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three White Soldiers