USD/CHF – 1H – BUYThe pair US Dollar/Swiss Franc (USD/CHF) breaks through the bearish trendline up.
The bullish trend upwards to the next resistance line at 0.80799 is considered certain.
Caution: A possible reversal of the trend in the direction of the support line at 0.79779 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Northern Doji’ chart pattern is detected. The candles form ‘Northern Doji’. which is a positive 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’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.81947 |
| 2nd High | 0.81936 |
| Next High | 0.80799 |
| Current Price | 0.79875 |
| Next Low | 0.79779 |
| 2nd Low | |
| 3rd Low |
0.80799 – 0.81936 – 0.81947 – 0.79779 – 0.80400 – 0.80344
Trading Signals: FOREX – USD – USD/CHF – CHF – Northern Doji –