USD/CHF – 1H – BUYThe combination US Dollar/Swiss Franc (USD/CHF) breaks through the ascending trendline up.
A continuation of the uptrend up to the next resistance at 0.80807 is expected.
Caution: A possible reversal of the trend in the direction of support at 0.80453 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Bullish Engulfing’ candle chart pattern is found. The candles form ‘Bullish Engulfing’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.81936 |
| 2nd High | 0.80924 |
| Next High | 0.80807 |
| Current Price | 0.80785 |
| Next Low | 0.80453 |
| 2nd Low | 0.79214 |
| 3rd Low | 0.79003 |
0.80807 – 0.80695 – 0.80924 – 0.80453 – 0.79214 – 0.79003 — 56.0838931902 – 61.258037999007 — 37.052149681529 – 59.146098726115 – 30.205015923567 – 40.86495930644
Trading Signals: FOREX – USD – USD/CHF – CHF – Bullish Engulfing – – –