USD/CHF – 30M – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) breaks through the bearish trendline upwards
The bullish trend up to the next resistance at 0.77929 is expected.
Caution: A possible trend reversal in the direction of the support line at 0.7774 should be noted.
Consider stop-loss settings accordingly.
Moreover a ‘Bullish Engulfing’ candle chart pattern is existing. The candles show ‘Bullish Engulfing’. 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 probability of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.78197 |
| 2nd High | 0.78038 |
| Next High | 0.77929 |
| Current Price | 0.77896 |
| Next Low | 0.7774 |
| 2nd Low | 0.77709 |
| 3rd Low | 0.77649 |
0.77929 – 0.78038 – 0.78197 – 0.7774 – 0.77709 – 0.78079 —
0.77923 – 0.77900 —
42.244145085129 – 50.565500796153 —
– —
0.77929 – 1778124600
Trading Signals: FOREX – USD – USD/CHF – CHF – Bullish Engulfing – – – – – – – – –