USD/CHF – 30M – BUYThe combination US Dollar/Swiss Franc (USD/CHF) jumps from the bearish trendline down.
A continuation of the downtrend downwards to the next support level at 0.87964 is likely expected.
Caution: A possible change in the direction of resistance at 0.88365 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Northern Doji’ candle pattern is detected. The candles form ‘Northern Doji’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88423 |
| 2nd High | 0.88398 |
| Next High | 0.88365 |
| Current Price | 0.88202 |
| Next Low | 0.87964 |
| 2nd Low | 0.87554 |
| 3rd Low |
0.88365 – 0.88398 – 0.88423 – 0.87964 – 0.88081 – 0.87554
Trading Signals: FOREX – USD – USD/CHF – CHF – Northern Doji