USD/CHF – 1H – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) jumps from the ascending trendline downwards
A bearish descent down to the next support level at 0.88036 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.88345 could be enabled.
Consider stop-loss settings accordingly.
And also a ‘Northern Doji’ chart pattern is existing. The candles form ‘Northern Doji’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
And also a ‘Double top chart pattern’ chart layout is found. The chart forms ‘Double top chart pattern’. which is a negative signal. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88636 |
| 2nd High | 0.88503 |
| Next High | 0.88345 |
| Current Price | 0.88057 |
| Next Low | 0.88036 |
| 2nd Low | 0.88000 |
| 3rd Low | 0.87993 |
0.88345 – 0.88503 – 0.88484 – 0.88036 – 0.88194 – 0.88000
Trading Signals: FOREX – USD – USD/CHF – CHF – Northern Doji