USD/CHF – 1H – BUYThe combination US Dollar/Swiss Franc (USD/CHF) goes from the ascending trendline down.
A descent downwards to the next support at 0.89126 is likely expected.
Caution: A possible change in the direction of the resistance line at 0.90118 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Bullish Meeting Lines’ chart pattern is detected. The chart shows ‘Bullish Meeting Lines’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Meeting Lines’ going up is 56% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.90214 |
| Next High | 0.90118 |
| Current Price | 0.89883 |
| Next Low | 0.89126 |
| 2nd Low | 0.88984 |
| 3rd Low | 0.88161 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bullish Meeting Lines