USD/CHF – 30M – BUYThe pair US Dollar/Swiss Franc (USD/CHF) jumps from the descending trendline downwards
A continuation of the downward movement downwards to the next support line at 0.90099 is expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.90736 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Inverted Hammer’ candle pattern is found. The candles show ‘Inverted Hammer’. this 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 ‘Inverted Hammer’ heading up is 65% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.90736 |
| Current Price | 0.90352 |
| Next Low | 0.90099 |
| 2nd Low | 0.90022 |
| 3rd Low | 0.89843 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Inverted Hammer