USD/CHF – 30M – BUYThe combination US Dollar/Swiss Franc (USD/CHF) breaks through the descending trendline upwards
A bullish ascent up to the next resistance line at 0.79936 is expected.
Caution: A possible change in the direction of support at should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Northern Doji’ candle pattern is found. The chart forms ‘Northern Doji’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.80178 |
| 2nd High | 0.80074 |
| Next High | 0.79936 |
| Current Price | 0.79013 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
0.79936 – 0.80074 – 0.80178 – 0.79147 – 0.79811 – 0.79574
Trading Signals: FOREX – USD – USD/CHF – CHF – Northern Doji – Double bottom retreat down