USD/CHF – 1H – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) breaks through the descending trendline up.
The bullish trend upwards to the next resistance at 0.88038 is considered certain.
Caution: A possible counter-trend in the direction of the support line at 0.87584 should be noted.
Consider stop-loss settings accordingly.
There is also a ‘Three White Soldiers’ candle pattern is found. The chart forms ‘Three White Soldiers’. which is a bullish 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 White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88794 |
| 2nd High | 0.88530 |
| Next High | 0.88038 |
| Current Price | 0.88008 |
| Next Low | 0.87584 |
| 2nd Low | 0.87354 |
| 3rd Low | 0.87008 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three White Soldiers