USD/CHF – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 0.794005 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 0.79572 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Bullish Belt Hold’ candlestick chart pattern is existing. The chart shows ‘Bullish Belt Hold’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.79704 |
| 2nd High | 0.79594 |
| Next High | 0.79572 |
| Current Price | 0.79288 |
| Next Low | 0.79097 |
| 2nd Low | 0.78716 |
| 3rd Low | 0.78676 |
0.79572 – 0.79594 – 0.7949 – 0.79097 – 0.79212 – 0.79326 —
0.79206 – 0.79305 —
42.785071115587 – 53.09592641092 —
– —
0.79572 – 1781622000
Trading Signals: FOREX – USD – USD/CHF – CHF – Bullish Belt Hold – – – – – – – – –