Next a ‘Falling Wedge Chart Pattern’ chart formation is existing. The chart forms ‘Falling Wedge Chart Pattern’. this is a bullish chart scenario. The currency pair is likely to rise.
The pair US Dollar/Swiss Franc (USD/CHF) breaks through the descending trendline up.
A bullish movement up to the next resistance level at 0.81467 will persist.
Caution: A possible change in the direction of the support zone at 0.81201 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Resistance Level’ indicator layout is existing. The indicator is ‘Resistance Level’. which could be a positive chart scenario. The currency pair could go up.
Next a ‘Bullish Engulfing’ candlestick pattern is existing. The chart forms ‘Bullish Engulfing’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ heading up is 63%.
Support & Resistance | Price Range* |
---|---|
3rd High | 0.82075 |
2nd High | 0.81481 |
Next High | 0.81467 |
Current Price | 0.81433 |
Next Low | 0.81201 |
2nd Low | 0.80886 |
3rd Low | 0.80555 |
0.81467 – 0.81337 – 0.81481 – 0.81201 – 0.80886 – 0.81066
Trading Signals: FOREX – USD – USD/CHF – CHF – Bullish Engulfing