USD/CHF – 1H – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) breaks through the bearish trendline up.
A bullish movement upwards to the next resistance level at 0.88398 is considered certain.
Caution: A possible change in the direction of the support line at 0.87964 should be noted.
Consider stop-loss settings accordingly.
Then a ‘Northern Doji’ candle pattern is discovered. The chart shows ‘Northern Doji’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88636 |
| 2nd High | 0.88423 |
| Next High | 0.88398 |
| Current Price | 0.88357 |
| Next Low | 0.87964 |
| 2nd Low | 0.87554 |
| 3rd Low |
0.88398 – 0.88423 – 0.88091 – 0.87964 – 0.88081 – 0.87554
Trading Signals: FOREX – USD – USD/CHF – CHF – Northern Doji