USD/CHF – 4H – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) breaks through the ascending trendline upwards
A continuation of the upward movement up to the next resistance at is expected.
Caution: A possible trend reversal in the direction of support at 0.89126 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Three Outside Up’ candlestick chart pattern is discovered. The chart forms ‘Three Outside Up’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 0.91237 |
| Next Low | 0.89126 |
| 2nd Low | 0.87354 |
| 3rd Low | 0.87008 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Up