USD/CHF – 30M – BUYThe combination US Dollar/Swiss Franc (USD/CHF) jumps from the bearish trendline downwards
A continuation of the downward movement down to the next support at 0.90981 will persist.
Caution: A possible counter-trend in the direction of the resistance level at 0.91280 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Bullish Meeting Lines’ candle pattern is existing. The chart forms ‘Bullish Meeting Lines’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Meeting Lines’ going up is 56% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.91370 |
| Next High | 0.91280 |
| Current Price | 0.91099 |
| Next Low | 0.90981 |
| 2nd Low | 0.90224 |
| 3rd Low | 0.90081 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bullish Meeting Lines