USD/CHF – 1H – BUYThe combination US Dollar/Swiss Franc (USD/CHF) breaks through the bearish trendline upwards
An ascent up to the next resistance at 0.80762 will persist.
Caution: A possible trend reversal in the direction of the support line at 0.79937 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bullish Engulfing’ candle chart pattern is found. The candles show ‘Bullish Engulfing’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.81936 |
| 2nd High | 0.81036 |
| Next High | 0.80762 |
| Current Price | 0.80343 |
| Next Low | 0.79937 |
| 2nd Low | 0.79214 |
| 3rd Low | 0.79003 |
0.80303 – 0.80762 – 0.80721 – 0.79937 – 0.80253 – 0.8 — 35.775744402099 – 41.158049444795 — 0 – 9.6232262273691 – 1.8250742945951 – 3.2077420757897
Trading Signals: FOREX – USD – USD/CHF – CHF – Bullish Engulfing – – –