USD/CHF – 30M – BUYThe pair US Dollar/Swiss Franc (USD/CHF) jumps from the bullish trendline down.
A descent downwards to the next support at 0.82818 is likely expected.
Caution: A possible trend reversal in the direction of the resistance zone at 0.83346 could be enabled.
Consider stop-loss settings accordingly.
In addition a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is detected. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative chart signal. The currency pair is likely to fall.
In addition a ‘Matching Low’ chart pattern is discovered. The candles show ‘Matching Low’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
In addition a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. which is often a bearish chart scenario. The currency pair could go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.85834 |
| 2nd High | 0.85745 |
| Next High | 0.83346 |
| Current Price | 0.82843 |
| Next Low | 0.82818 |
| 2nd Low | 0.82533 |
| 3rd Low | 0.82391 |
0.83346 – 0.82880 – 0.83110 – 0.82818 – 0.82533 – 0.82391
Trading Signals: FOREX – USD – USD/CHF – CHF – Matching Low