USD/CHF – 1H – BUYThe combination US Dollar/Swiss Franc (USD/CHF) jumps from the bullish trendline up.
A continuation of the upward movement up to the next resistance at 0.90799 is expected.
Caution: A possible counter-trend in the direction of the support level at 0.90227 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Current target is 0.90799 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the resistance level at 0.90799 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three Outside Up’ candlestick 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 success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.90799 |
| Current Price | 0.90777 |
| Next Low | 0.90227 |
| 2nd Low | 0.90099 |
| 3rd Low | 0.89843 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Up