USD/CHF – 1H – BUYThe pair US Dollar/Swiss Franc (USD/CHF) breaks through the bullish trendline up.
A continuation of the uptrend upwards to the next resistance level at 0.89456 is certain.
Caution: A possible counter-trend in the direction of the support level at 0.89144 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Latter Bottom’ candle chart pattern is existing. The chart shows ‘Latter Bottom’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Latter Bottom’ heading up is 56% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.89574 |
| Next High | 0.89456 |
| Current Price | 0.89233 |
| Next Low | 0.89144 |
| 2nd Low | 0.88161 |
| 3rd Low | 0.88106 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Latter Bottom