In addition a ‘Rising Wedge Chart Pattern’ chart layout is found. The chart picture shows ‘Rising Wedge Chart Pattern’. which is a bearish signal. The pair is likely to go down.
The combination US Dollar/Swiss Franc (USD/CHF) moves from the bullish trendline downwards
A bearish movement downwards to the next support line at 0.81201 will continue.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.82344 could occur.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Northern Doji’ candle chart pattern is discovered. The chart shows ‘Northern Doji’. 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 chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
Support & Resistance | Price Range* |
---|---|
3rd High | 0.82479 |
2nd High | 0.82417 |
Next High | 0.82344 |
Current Price | 0.81668 |
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 – Northern Doji