USD/CHF – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 0.91565 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of resistance at 0.92007 should be noted.
Consider stop-loss settings accordingly.
Next a ‘Bullish Belt Hold’ candlestick chart pattern is discovered. The candles form ‘Bullish Belt Hold’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.92007 |
| Current Price | 0.91527 |
| Next Low | 0.91512 |
| 2nd Low | 0.91123 |
| 3rd Low | 0.91065 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bullish Belt Hold