USD/CHF – 1H – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) goes from the bullish trendline down.
A bearish movement downwards to the next support at 0.87008 is expected.
Caution: A possible trend reversal in the direction of the resistance line at 0.88530 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bullish Engulfing’ candle chart pattern is existing. The candles form ‘Bullish Engulfing’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88885 |
| 2nd High | 0.88794 |
| Next High | 0.88530 |
| Current Price | 0.87652 |
| Next Low | 0.87008 |
| 2nd Low | 0.86196 |
| 3rd Low | 0.86157 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bullish Engulfing