USD/CHF – 4H – BUYThe pair US Dollar/Swiss Franc (USD/CHF) jumps from the descending trendline down.
A continuation of the bearish trend down to the next support line at 0.87354 is expected.
Caution: A possible counter-trend in the direction of the resistance zone at 0.88894 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Bullish Meeting Lines’ candle pattern is detected. The chart forms ‘Bullish Meeting Lines’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Meeting Lines’ heading up is 56% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.89574 |
| Next High | 0.88894 |
| Current Price | 0.88359 |
| Next Low | 0.87354 |
| 2nd Low | 0.87008 |
| 3rd Low | 0.86147 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bullish Meeting Lines