USD/CHF – 30M – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) moves from the ascending trendline down.
A bearish trend downwards to the next support level at 0.89843 is considered certain.
Caution: A possible change in the direction of resistance at 0.90272 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Hammer’ candle pattern is existing. The chart shows ‘Hammer’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Hammer’ heading up is 60% (Bull Market) & 59% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.90272 |
| Current Price | 0.90164 |
| Next Low | 0.89843 |
| 2nd Low | 0.89771 |
| 3rd Low | 0.89126 |