USD/CHF – 1H – BUYThe combination US Dollar/Swiss Franc (USD/CHF) jumps from the bullish trendline downwards
A bearish descent down to the next support at 0.89126 is considered certain.
Caution: A possible trend reversal 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.
Furthermore a ‘Three Outside Up’ candle chart pattern is discovered. The candles show ‘Three Outside Up’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.90214 |
| Next High | 0.89975 |
| Current Price | 0.89594 |
| Next Low | 0.89126 |
| 2nd Low | 0.88984 |
| 3rd Low | 0.88161 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Up