USD/CHF – 30M – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) goes from the ascending trendline down.
The bearish trend down to the next support line at 0.89144 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.89745 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Three Outside Up’ candlestick pattern is discovered. The candles form ‘Three Outside Up’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.89745 |
| Current Price | 0.89272 |
| Next Low | 0.89144 |
| 2nd Low | 0.88984 |
| 3rd Low | 0.88161 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Up