USD/CHF – 1H – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) goes from the bullish trendline down.
A bearish trend down to the next support level at 0.90797 is certain.
Caution: A possible change in the direction of the resistance line at 0.91370 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Three Outside Up’ candlestick pattern is discovered. The chart forms ‘Three Outside Up’. which is a bullish pattern signal. The currency pair is likely to rise. 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 | |
| 2nd High | |
| Next High | 0.91370 |
| Current Price | 0.90976 |
| Next Low | 0.90797 |
| 2nd Low | 0.90386 |
| 3rd Low | 0.90227 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Up