USD/CHF – 4H – BUYThe pair US Dollar/Swiss Franc (USD/CHF) goes from the ascending trendline down.
A descending movement down to the next support line at 0.90081 is likely expected.
Caution: A possible counter-trend in the direction of the resistance level at 0.91370 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Bullish Meeting Lines’ chart pattern is found. The chart forms ‘Bullish Meeting Lines’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Meeting Lines’ going up is 56% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.91370 |
| Current Price | 0.91208 |
| Next Low | 0.90081 |
| 2nd Low | 0.89126 |
| 3rd Low | 0.87354 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bullish Meeting Lines