USD/CHF – 1H – BUYThe pair US Dollar/Swiss Franc (USD/CHF) breaks through the descending trendline up.
The bullish trend up to the next resistance line at 0.88423 will continue.
Caution: A possible reversal of the trend in the direction of the support zone at 0.88081 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend will continue. Target of the current trend is 0.88404452 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of resistance at 0.88423 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is found. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bullish chart signal. The currency pair is likely to rise.
In addition a ‘Northern Doji’ candle chart pattern is detected. The candles show ‘Northern Doji’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
In addition a ‘Support Level’ indicator signal is discovered. The indicator shows ‘Support Level’. this is usually a bullish chart scenario. The currency pair could go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89255 |
| 2nd High | 0.88636 |
| Next High | 0.88423 |
| Current Price | 0.88177 |
| Next Low | 0.88081 |
| 2nd Low | 0.87554 |
| 3rd Low |
0.88423 – 0.88091 – 0.88182 – 0.88081 – 0.87554 – 0.87587
Trading Signals: FOREX – USD – USD/CHF – CHF – Northern Doji