USD/CHF – 1H – BUYThe combination US Dollar/Swiss Franc (USD/CHF) jumps from the ascending trendline up.
A continuation of the bullish trend up to the next resistance at 0.89745 is expected.
Caution: A possible change in the direction of the support level at 0.89171 could occur.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Latter Bottom’ candle pattern is discovered. The chart forms ‘Latter Bottom’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Latter Bottom’ going up is 56% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.89745 |
| Current Price | 0.89370 |
| Next Low | 0.89171 |
| 2nd Low | 0.89144 |
| 3rd Low | 0.88984 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Latter Bottom