USD/CHF – 1H – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) moves from the bullish trendline down.
A descending movement down to the next support level at 0.89843 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.90098 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Tweezers Bottom’ chart pattern is detected. The chart shows ‘Tweezers Bottom’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Tweezers Bottom’ heading 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 | 0.89939 |
| Next Low | 0.89843 |
| 2nd Low | 0.89126 |
| 3rd Low | 0.88984 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Tweezers Bottom