USD/CHF – 4H – BUYThe combination US Dollar/Swiss Franc (USD/CHF) moves from the bullish trendline down.
The bearish trend down to the next support line at 0.81966 is considered certain.
Caution: A possible change in the direction of the resistance line at 0.83346 is also possible.
Consider stop-loss settings accordingly.
Additionally a ‘Tweezers Top’ candle chart pattern is detected. The candles show ‘Tweezers Top’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88549 |
| 2nd High | 0.86736 |
| Next High | 0.83346 |
| Current Price | 0.82657 |
| Next Low | 0.81966 |
| 2nd Low | 0.80392 |
| 3rd Low |
0.83346 – 0.82683 – 0.86736 – 0.81966 – 0.80392 – 0.81182
Trading Signals: FOREX – USD – USD/CHF – CHF – Tweezers Top