USD/CHF – 1H – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) goes from the descending trendline up.
An ascending movement up to the next resistance at 0.88868 is expected.
Caution: A possible reversal of the trend in the direction of the support zone at 0.87973 should always be considered.
Consider stop-loss settings accordingly.
Then a ‘Three Line Strike – Bullish’ candle chart pattern is existing. The chart forms ‘Three Line Strike – Bullish’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Line Strike – Bullish’ going up is 83% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89574 |
| 2nd High | 0.88943 |
| Next High | 0.88868 |
| Current Price | 0.88401 |
| Next Low | 0.87973 |
| 2nd Low | 0.87971 |
| 3rd Low | 0.87008 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Line Strike – Bullish