USD/CHF – 30M – BUYThe pair US Dollar/Swiss Franc (USD/CHF) jumps from the bearish trendline downwards
A continuation of the bearish trend down to the next support line at 0.89843 will persist.
Caution: A possible counter-trend in the direction of the resistance line at 0.90098 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Tweezers Bottom’ candlestick chart pattern is discovered. The candles form ‘Tweezers Bottom’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance 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 | 0.89963 |
| Next Low | 0.89843 |
| 2nd Low | 0.89771 |
| 3rd Low | 0.89126 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Tweezers Bottom