USD/CHF – 1H – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) jumps from the bearish trendline down.
A continuation of the downtrend down to the next support level at 0.89126 will persist.
Caution: A possible counter-trend in the direction of resistance at 0.89975 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three White Soldiers’ candle chart pattern is found. The candles form ‘Three White Soldiers’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.90214 |
| Next High | 0.89975 |
| Current Price | 0.89810 |
| Next Low | 0.89126 |
| 2nd Low | 0.88984 |
| 3rd Low | 0.88161 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three White Soldiers