USD/CHF – 4H – BUYThe combination US Dollar/Swiss Franc (USD/CHF) moves from the ascending trendline down.
A descending movement down to the next support at 0.87354 will persist.
Caution: A possible trend reversal in the direction of the resistance line at 0.89574 is within the realm of possibility.
Consider stop-loss settings accordingly.
Besides a ‘Three White Soldiers’ candlestick pattern is existing. The candles show ‘Three White Soldiers’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.89574 |
| Current Price | 0.89348 |
| Next Low | 0.87354 |
| 2nd Low | 0.87008 |
| 3rd Low | 0.86147 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three White Soldiers