USD/CHF – 1H – 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 0.85834 will persist.
Caution: A possible trend reversal in the direction of support at 0.82689 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Northern Doji’ candle chart pattern is found. The chart shows ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88483 |
| 2nd High | 0.86736 |
| Next High | 0.85834 |
| Current Price | 0.84657 |
| 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