USD/CHF – 1H – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) goes from the ascending trendline down.
A bearish descent downwards to the next support at 0.87008 is likely expected.
Caution: A possible trend reversal in the direction of the resistance zone at 0.88530 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Three Outside Up’ candle chart pattern is detected. The chart shows ‘Three Outside Up’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88885 |
| 2nd High | 0.88794 |
| Next High | 0.88530 |
| Current Price | 0.87916 |
| Next Low | 0.87008 |
| 2nd Low | 0.86196 |
| 3rd Low | 0.86157 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Up