USD/CHF – 1H – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) moves from the ascending trendline down.
A bearish movement downwards to the next support at 0.89126 will persist.
Caution: A possible counter-trend in the direction of the resistance level at 0.89975 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bullish Meeting Lines’ candlestick pattern is found. The candles show ‘Bullish Meeting Lines’. which is a positive 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 ‘Bullish Meeting Lines’ going up is 56% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.90214 |
| Next High | 0.89975 |
| Current Price | 0.89832 |
| Next Low | 0.89126 |
| 2nd Low | 0.88984 |
| 3rd Low | 0.88161 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bullish Meeting Lines