USD/CHF – 30M – BUYThe combination US Dollar/Swiss Franc (USD/CHF) breaks through the ascending trendline up.
A continuation of the bullish trend up to the next resistance at 0.82621 is expected.
Caution: A possible counter-trend in the direction of the support level at 0.82233 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Northern Doji’ candlestick chart pattern is discovered. The candles show ‘Northern Doji’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
Furthermore a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. which is often a bullish chart scenario. The pair is likely to go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.82750 |
| 2nd High | 0.82717 |
| Next High | 0.82621 |
| Current Price | 0.82782 |
| Next Low | 0.82233 |
| 2nd Low | 0.81852 |
| 3rd Low | 0.80665 |
0.82439 – 0.82621 – 0.82717 – 0.82233 – 0.81852 – 0.82096
Trading Signals: FOREX – USD – USD/CHF – CHF – Northern Doji