USD/CHF – 30M – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) breaks through the bearish trendline up.
A bullish movement up to the next resistance line at 0.82311 is expected.
Caution: A possible trend reversal in the direction of the support level at 0.80665 is also possible.
Consider stop-loss settings accordingly.
Correction of the major bearish trend broke through the Fibonacci 0.79-Level.Continuation of the current ascending trend is expected. Target of the current trend is 0.82311 at the Fibonacci level 1-Level. Caution: A possible trend reversal in the direction of the resistance line at 0.82311 is also possible.
Consider stop-loss settings accordingly.
Furthermore a ‘Northern Doji’ candlestick chart pattern is detected. The candles show ‘Northern Doji’. which is a bullish chart scenario. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.82683 |
| 2nd High | 0.82390 |
| Next High | 0.82311 |
| Current Price | 0.81986 |
| Next Low | 0.80665 |
| 2nd Low | 0.80392 |
| 3rd Low |
0.81247 – 0.81967 – 0.82311 – 0.80665 – 0.80392 – 0.81742
Trading Signals: FOREX – USD – USD/CHF – CHF – Northern Doji