USD/CHF – 1H – BUYThe combination US Dollar/Swiss Franc (USD/CHF) goes from the ascending trendline down.
A bearish trend downwards to the next support at 0.89126 is likely expected.
Caution: A possible trend reversal in the direction of the resistance line at 0.90016 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three Outside Up’ chart pattern is found. The candles show ‘Three Outside Up’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability 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 | 0.90016 |
| Current Price | 0.89951 |
| Next Low | 0.89126 |
| 2nd Low | 0.88984 |
| 3rd Low | 0.88161 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Up