USD/CHF – 1H – BUYCorrection of the major bearish trend broke through the Fibonacci 0.79-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 0.9137 at the Fibonacci level 1-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 0.91370 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Two-Candle Shooting Star’ candlestick chart pattern is detected. The candles show ‘Two-Candle Shooting Star’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Two-Candle Shooting Star’ heading down is 61% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.91370 |
| Current Price | 0.91116 |
| Next Low | 0.90224 |
| 2nd Low | 0.90081 |
| 3rd Low | 0.89843 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Two-Candle Shooting Star