USD/CHF – 30M – BUYThe pair US Dollar/Swiss Franc (USD/CHF) goes from the ascending trendline down.
A bearish movement down to the next support line at 0.82137 is considered certain.
Caution: A possible trend reversal in the direction of the resistance level at 0.83183 could happen.
Consider stop-loss settings accordingly.
In addition a ‘Southern Doji’ chart pattern is detected. The candles show ‘Southern Doji’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Southern Doji’ going up is 51% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.85745 |
| 2nd High | 0.83346 |
| Next High | 0.83183 |
| Current Price | 0.82743 |
| Next Low | 0.82137 |
| 2nd Low | 0.81966 |
| 3rd Low | 0.80665 |
0.82726 – 0.82631 – 0.82485 – 0.82137 – 0.82265 – 0.82167
Trading Signals: FOREX – USD – USD/CHF – CHF – Southern Doji