USD/CHF – 30M – BUYThe combination US Dollar/Swiss Franc (USD/CHF) moves from the bullish trendline down.
A bearish descent downwards to the next support level at 0.89171 will continue.
Caution: A possible trend reversal in the direction of the resistance level at 0.89745 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Matching Low’ candle pattern is detected. The chart forms ‘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 likelyhood of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.89745 |
| Current Price | 0.89288 |
| Next Low | 0.89171 |
| 2nd Low | 0.89144 |
| 3rd Low | 0.88984 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Matching Low