USD/CHF – 30M – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) goes from the ascending trendline downwards
A bearish movement down to the next support line at 0.87706 will continue.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.87925 should always be considered.
Consider stop-loss settings accordingly.
Next a ‘Matching Low’ candlestick pattern is detected. The candles form ‘Matching Low’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88530 |
| 2nd High | 0.88038 |
| Next High | 0.87925 |
| Current Price | 0.87989 |
| Next Low | 0.87706 |
| 2nd Low | 0.87584 |
| 3rd Low | 0.87354 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Matching Low