USD/CHF – 30M – BUYThe combination US Dollar/Swiss Franc (USD/CHF) goes from the ascending trendline up.
A continuation of the uptrend upwards to the next resistance line at 0.91298 is likely expected.
Caution: A possible counter-trend in the direction of the support zone at 0.91065 should always be considered.
Consider stop-loss settings accordingly.
Also there is a ‘Bearish SBS White Lines’ candlestick chart pattern is detected. The candles form ‘Bearish SBS White Lines’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91370 |
| 2nd High | 0.91306 |
| Next High | 0.91298 |
| Current Price | 0.91191 |
| Next Low | 0.91065 |
| 2nd Low | 0.90978 |
| 3rd Low | 0.90224 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish SBS White Lines