USD/CHF – 4H – BUYThe pair US Dollar/Swiss Franc (USD/CHF) breaks through the bearish trendline up.
An ascending movement up to the next resistance line at 0.88636 is considered certain.
Caution: A possible reversal of the trend in the direction of the support line at 0.87554 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bullish Engulfing’ candle pattern is detected. The candles show ‘Bullish Engulfing’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90357 |
| 2nd High | 0.89255 |
| Next High | 0.88636 |
| Current Price | 0.88330 |
| Next Low | 0.87554 |
| 2nd Low | |
| 3rd Low |
0.88636 – 0.89255 – 0.90357 – 0.87554 – 0.87577 – 0.89120
Trading Signals: FOREX – USD – USD/CHF – CHF – Bullish Engulfing