USD/CHF – 30M – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) goes from the ascending trendline downwards
A bearish movement downwards to the next support line at 0.88984 will continue.
Caution: A possible counter-trend in the direction of the resistance zone at 0.89745 could happen.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Matching Low’ candlestick chart pattern is found. The chart forms ‘Matching Low’. which is a positive pattern signal. 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’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.89745 |
| Current Price | 0.89194 |
| Next Low | 0.88984 |
| 2nd Low | 0.88161 |
| 3rd Low | 0.88106 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Matching Low