USD/CHF – 30M – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) goes from the ascending trendline down.
A bearish movement downwards to the next support at 0.89172 will continue.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.89914 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend will continue. Current target is 0.89679 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the resistance level at 0.89914 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Outside Up’ candle chart pattern is existing. The candles form ‘Three Outside Up’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90214 |
| 2nd High | 0.89975 |
| Next High | 0.89914 |
| Current Price | 0.89493 |
| Next Low | 0.89172 |
| 2nd Low | 0.89171 |
| 3rd Low | 0.89144 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Up