USD/CHF – 1H – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) breaks through the bullish trendline upwards
A continuation of the uptrend up to the next resistance at 0.90272 is expected.
Caution: A possible counter-trend in the direction of the support zone at 0.89843 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Two-Candle Shooting Star’ candle chart pattern is detected. The candles show ‘Two-Candle Shooting Star’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Two-Candle Shooting Star’ heading down is 61% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.90272 |
| Current Price | 0.90172 |
| Next Low | 0.89843 |
| 2nd Low | 0.89126 |
| 3rd Low | 0.88984 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Two-Candle Shooting Star