USD/CHF – 4H – BUYThe combination US Dollar/Swiss Franc (USD/CHF) breaks through the bearish trendline up.
An ascending movement upwards to the next resistance line at 0.88894 will persist.
Caution: A possible trend reversal in the direction of support at 0.87354 should be noted.
Consider stop-loss settings accordingly.
Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend will persist. Current target is 0.88968424 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of resistance at 0.88894 should be noted.
Consider stop-loss settings accordingly.
Moreover a ‘Three White Soldiers’ candle chart pattern is existing. The chart shows ‘Three White Soldiers’. which is a positive signal. 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’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.89574 |
| Next High | 0.88894 |
| Current Price | 0.88414 |
| Next Low | 0.87354 |
| 2nd Low | 0.87008 |
| 3rd Low | 0.86147 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three White Soldiers