USD/CHF – 30M – BUYThe pair US Dollar/Swiss Franc (USD/CHF) jumps from the ascending trendline downwards
A descent downwards to the next support line at 0.89771 will continue.
Caution: A possible counter-trend in the direction of the resistance level at 0.90016 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Three Outside Up’ candle pattern is discovered. The candles form ‘Three Outside Up’. this is a bullish pattern signal. 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 | 0.89912 |
| Next Low | 0.89771 |
| 2nd Low | 0.89126 |
| 3rd Low | 0.88984 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Up