The pair US Dollar/Swiss Franc (USD/CHF) breaks through the ascending trendline upwards
A continuation of the bullish trend upwards to the next resistance level at 0.85834 is certain.
Caution: A possible counter-trend in the direction of the support level at 0.82689 could occur.
Consider stop-loss settings accordingly.
Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is certain. Current target is 0.83408 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the resistance level at 0.85834 could occur.
Consider stop-loss settings accordingly.
Also there is a ‘Northern Doji’ candlestick pattern is existing. The candles show ‘Northern Doji’. 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 success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
Also there is a ‘Resistance Level’ indicator signal is detected. The indicator shows ‘Resistance Level’. which is often a bullish chart scenario. The currency pair is likely to rise.
Support & Resistance | Price Range* |
---|---|
3rd High | 0.88483 |
2nd High | 0.86736 |
Next High | 0.85834 |
Current Price | 0.84536 |
Next Low | 0.82689 |
2nd Low | 0.81852 |
3rd Low | 0.80392 |
0.83408 – 0.82717 – 0.82651 – 0.82689 – 0.81852 – 0.82096
Trading Signals: FOREX – USD – USD/CHF – CHF – Northern Doji