USD/CHF – 30M – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) breaks through the ascending trendline up.
A continuation of the bullish trend up to the next resistance level at 0.89574 will persist.
Caution: A possible reversal of the trend in the direction of the support line at 0.89297 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend will persist. Target of the current trend is 0.89483 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the resistance level at 0.89574 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three Outside Up’ candlestick pattern is found. The chart shows ‘Three Outside Up’. which is a bullish chart scenario. The currency pair is likely to go up. 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 | |
| Next High | 0.89574 |
| Current Price | 0.89557 |
| Next Low | 0.89297 |
| 2nd Low | 0.88984 |
| 3rd Low | 0.88161 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Up