USD/CHF – 30M – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) goes from the ascending trendline down.
A bearish movement down to the next support level at 0.90224 will persist.
Caution: A possible trend reversal in the direction of the resistance zone at 0.91045 should always be considered.
Consider stop-loss settings accordingly.
Next a ‘Bullish Engulfing’ candlestick chart pattern is existing. The candles form ‘Bullish Engulfing’. which 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 ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91243 |
| 2nd High | 0.91074 |
| Next High | 0.91045 |
| Current Price | 0.90755 |
| Next Low | 0.90224 |
| 2nd Low | 0.90081 |
| 3rd Low | 0.90022 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bullish Engulfing