USD/CHF – 30M – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) moves from the ascending trendline down.
A descending movement down to the next support at 0.88984 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 0.89483 is within the realm of possibility.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Outside Up’ candle chart pattern is detected. The chart shows ‘Three Outside Up’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.89574 |
| Next High | 0.89483 |
| Current Price | 0.89420 |
| Next Low | 0.88984 |
| 2nd Low | 0.88161 |
| 3rd Low | 0.88106 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Up