USD/CHF – 1H – BUYThe combination US Dollar/Swiss Franc (USD/CHF) moves from the bullish trendline downwards
A bearish trend down to the next support level at 0.88984 is expected.
Caution: A possible counter-trend in the direction of the resistance level at 0.89574 could occur.
Consider stop-loss settings accordingly.
And also a ‘Matching Low’ candle pattern is discovered. The chart forms ‘Matching Low’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.89574 |
| Current Price | 0.89532 |
| Next Low | 0.88984 |
| 2nd Low | 0.88161 |
| 3rd Low | 0.88106 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Matching Low