USD/CHF – 30M – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) jumps from the bearish trendline down.
A continuation of the downward movement downwards to the next support level at 0.89126 is certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.89914 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend is certain. Target of the current trend is 0.89981168 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 0.89914 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Three White Soldiers’ candle pattern is discovered. The candles show ‘Three White Soldiers’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90214 |
| 2nd High | 0.89975 |
| Next High | 0.89914 |
| Current Price | 0.89810 |
| Next Low | 0.89126 |
| 2nd Low | 0.88984 |
| 3rd Low | 0.88161 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three White Soldiers