USD/CHF – 30M – BUYThe pair US Dollar/Swiss Franc (USD/CHF) breaks through the descending trendline upwards
A bullish trend upwards to the next resistance level at 0.79792 is likely expected.
Caution: A possible reversal of the trend in the direction of support at 0.79613 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Bullish Belt Hold’ candlestick pattern is found. The chart forms ‘Bullish Belt Hold’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.80555 |
| 2nd High | 0.80113 |
| Next High | 0.79792 |
| Current Price | 0.79872 |
| Next Low | 0.79613 |
| 2nd Low | 0.79558 |
| 3rd Low | 0.79263 |
0.79792 – 0.80113 – 0.80555 – 0.79613 – 0.79558 – 0.80269 — 50.937967201825 – 61.143610180215 — 60.366258161377 – 68.532999791649 – 60.291772866404 – 65.04549011362
Trading Signals: FOREX – USD – USD/CHF – CHF – Bullish Belt Hold – Double bottom retreat down – –