USD/CHF – 4H – BUYThe pair US Dollar/Swiss Franc (USD/CHF) jumps from the ascending trendline down.
The bearish trend downwards to the next support at 0.89126 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at could happen.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Tweezers Bottom’ candle pattern is found. The chart forms ‘Tweezers Bottom’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Tweezers Bottom’ going up is 52% (Bull Market) & 56% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 0.90296 |
| Next Low | 0.89126 |
| 2nd Low | 0.87354 |
| 3rd Low | 0.87008 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Tweezers Bottom