USD/CHF – 30M – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) jumps from the ascending trendline downwards
A bearish trend down to the next support at 0.89126 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 0.89526 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Three Outside Up’ candle chart pattern is discovered. The chart shows ‘Three Outside Up’. 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 success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89975 |
| 2nd High | 0.89914 |
| Next High | 0.89526 |
| Current Price | 0.89483 |
| Next Low | 0.89126 |
| 2nd Low | 0.88984 |
| 3rd Low | 0.88161 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Up