USD/CHF – 1H – BUYThe combination US Dollar/Swiss Franc (USD/CHF) breaks through the ascending trendline up.
A continuation of the upward movement upwards to the next resistance at will continue.
Caution: A possible trend reversal in the direction of the support line at 0.90227 should be noted.
Consider stop-loss settings accordingly.
Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend will continue. Target of the current trend is 0.90799 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the resistance zone at should be noted.
Consider stop-loss settings accordingly.
And also a ‘Three White Soldiers’ candlestick chart pattern is existing. The chart forms ‘Three White Soldiers’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 0.91073 |
| Next Low | 0.90227 |
| 2nd Low | 0.90099 |
| 3rd Low | 0.89843 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three White Soldiers