USD/CHF – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Current target is 0.90118 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of resistance at 0.90098 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Tweezers Bottom’ candlestick chart pattern is existing. The chart forms ‘Tweezers Bottom’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Tweezers Bottom’ going up is 52% (Bull Market) & 56% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90214 |
| 2nd High | 0.90118 |
| Next High | 0.90098 |
| Current Price | 0.89888 |
| Next Low | 0.89771 |
| 2nd Low | 0.89126 |
| 3rd Low | 0.88984 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Tweezers Bottom