USD/CHF – 4H – BUYThe pair US Dollar/Swiss Franc (USD/CHF) jumps from the descending trendline down.
A continuation of the bearish trend down to the next support line at 0.81852 is expected.
Caution: A possible trend reversal in the direction of resistance at 0.83330 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Northern Doji’ candlestick chart pattern is existing. The candles show ‘Northern Doji’. which 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 probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
Then a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. which is often a bearish signal. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.86736 |
| 2nd High | 0.83346 |
| Next High | 0.83330 |
| Current Price | 0.83021 |
| Next Low | 0.81852 |
| 2nd Low | 0.80392 |
| 3rd Low |
0.83330 – 0.83346 – 0.82683 – 0.81852 – 0.82054 – 0.81966
Trading Signals: FOREX – USD – USD/CHF – CHF – Northern Doji