USD/CHF – 1H – BUYThe pair US Dollar/Swiss Franc (USD/CHF) breaks through the descending trendline upwards
An ascent up to the next resistance level at 0.83183 will continue.
Caution: A possible change in the direction of the support level at 0.82137 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Latter Bottom’ chart pattern is found. The candles form ‘Latter Bottom’. 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 probability of ‘Latter Bottom’ going up is 56% (Bull Market) & 51% (Bear Market).
Next a ‘Support Level’ indicator layout is detected. The indicator is ‘Support Level’. this is usually a bullish signal. The currency pair could go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.85834 |
| 2nd High | 0.83346 |
| Next High | 0.83183 |
| Current Price | 0.82792 |
| Next Low | 0.82137 |
| 2nd Low | 0.81966 |
| 3rd Low | 0.80392 |
0.82631 – 0.82639 – 0.83183 – 0.82137 – 0.82167 – 0.81966
Trading Signals: FOREX – USD – USD/CHF – CHF – Latter Bottom