USD/CHF – 1H – BUYThe combination US Dollar/Swiss Franc (USD/CHF) goes from the descending trendline down.
A continuation of the downtrend downwards to the next support level at 0.90081 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.91370 could happen.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Bullish Meeting Lines’ candlestick pattern is found. The candles show ‘Bullish Meeting Lines’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Meeting Lines’ heading up is 56% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.91370 |
| Current Price | 0.90461 |
| Next Low | 0.90081 |
| 2nd Low | 0.89843 |
| 3rd Low | 0.89126 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bullish Meeting Lines