Solid News

USDCHF, Candlestick Analysis

3/16/2023 10:26 AM

USD/CHF, H4

On the four-hour chart, at the support level of 0.9152, a series of Inverted Hammer candlestick analysis patterns is being formed, signaling a price reversal at the bottom, and around the level of 0.9212, a Hammer pattern is being formed, which warns market participants about a change in the direction of movement of the quotes of the trading instrument. Reversal patterns are confirmed by a series of Bullish Marubozu candlestick patterns, the formation of which was noted in the range of 0.9152–0.9355. In this case, the likely scenario is an upward dynamics to the resistance level of 0.9415 with subsequent movement to the area of 0.9587–0.9864. An alternative scenario is possible if the "bulls" fail to hold the key support level of 0.9152, then the negative dynamics may develop lower, up to the level of 0.8826.


USD/CHF, D1

On the daily chart, at the level of 0.9152, there is a formation of a large Morning Star candlestick analysis reversal pattern, which consists of five Candles, which also includes the Hammer pattern, confirming the price has reached a local base. The combination of such figures, as a rule, warns of a change in the balance of power in the market towards "bulls". In case of successful consolidation of the price above the resistance level of 0.9415, the upward dynamics will continue to the area of 0.9587–0.9864.


Support levels: 0.9152, 0.9027, 0.8927, 0.8826. | Resistance levels: 0.9415, 0.9587, 0.9724, 0.9864.

Find Us
Registered Address : Bonovo Road – Fomboni Island of Mohéli – Comoros Union
Sofia, PO Box 1407,14 Flip Kutev Str. Floor 2, Industrial area Hladilnika, Bulgaria
Call Us
+35 924 928 392


Disclaimer 1: Solid ECN Securities LLC and it affiliates does not accept clients from Turkey, United States, and Europe.
Disclaimer 2: The information provided on this site is not intended for residents of any country or jurisdiction where its distribution or use would violate local laws or regulations.
Risk Warnings
Solid ECN Securities LLC offers trading on Foreign Exchange (‘Forex’ or ‘FX’) and Contracts for Difference (‘CFDs’), which are complex financial products that are traded on margin. They carry a high level of risk since leverage can work both to your advantage and disadvantage. As a result, these products may not be suitable for all investors, as loss of all invested capital may occur. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and consider your investment objectives and level of experience. Seek independent advice, if necessary.
Solid ECN Securities LLC does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. Solid ECN Securities LLC is not a financial advisor and all services are provided on an execution-only basis. This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
By using solidecn.com you agree to use our cookies to enhance your experience.
Solid ECN Securities LLC is authorized and regulated by the Comoros Union with reference number HY00623411.
Copyright All Right Reserved 2023 SolidECN.com