USD/CHF – 1H – BUYThe pair US Dollar/Swiss Franc (USD/CHF) breaks through the ascending trendline up.
A continuation of the upward movement upwards to the next resistance line at 0.90098 is expected.
Caution: A possible trend reversal in the direction of the support line at 0.89843 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three Outside Up’ candlestick chart pattern is found. The candles show ‘Three Outside Up’. this is a bullish chart scenario. The pair is likely to go up. 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 | 0.90214 |
| 2nd High | 0.90118 |
| Next High | 0.90098 |
| Current Price | 0.90222 |
| Next Low | 0.89843 |
| 2nd Low | 0.89126 |
| 3rd Low | 0.88984 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Up