USD/CHF – 30M – BUYThe combination US Dollar/Swiss Franc (USD/CHF) jumps from the bearish trendline downwards
A continuation of the downtrend downwards to the next support level at 0.82137 is likely expected.
Caution: A possible change in the direction of the resistance zone at 0.83183 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Matching Low’ candlestick pattern is discovered. The chart forms ‘Matching Low’. which is a bullish 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 ‘Matching Low’ heading up is 61% (Bull & Bear Market).
Furthermore a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. this is usually a bearish signal. The pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.85745 |
| 2nd High | 0.83346 |
| Next High | 0.83183 |
| Current Price | 0.82613 |
| Next Low | 0.82137 |
| 2nd Low | 0.81966 |
| 3rd Low | 0.80665 |
0.82631 – 0.82485 – 0.82639 – 0.82137 – 0.82265 – 0.82167
Trading Signals: FOREX – USD – USD/CHF – CHF – Matching Low