USD/CHF – 1H – BUYThe pair US Dollar/Swiss Franc (USD/CHF) goes from the bullish trendline downwards
A descending movement down to the next support line at 0.88984 will continue.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.89574 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Matching Low’ candlestick chart pattern is found. The chart shows ‘Matching Low’. which is a bullish pattern signal. The 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 | 0.89188 |
| Next Low | 0.88984 |
| 2nd Low | 0.88161 |
| 3rd Low | 0.88106 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Matching Low