USD/CHF – 30M – BUYThe pair US Dollar/Swiss Franc (USD/CHF) jumps from the bullish trendline down.
A bearish movement downwards to the next support line at 0.81966 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.82639 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend is considered certain. Current target is 0.82656 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the resistance level at 0.82639 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Northern Doji’ candle chart pattern is detected. The chart forms ‘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’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83346 |
| 2nd High | 0.83183 |
| Next High | 0.82639 |
| Current Price | 0.82363 |
| Next Low | 0.81966 |
| 2nd Low | 0.80665 |
| 3rd Low | 0.80392 |
0.82639 – 0.83183 – 0.83119 – 0.81966 – 0.82670 – 0.82663
Trading Signals: FOREX – USD – USD/CHF – CHF – Northern Doji