USD/CHF – 30M – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) goes from the descending trendline downwards
A continuation of the downtrend downwards to the next support at 0.87584 is considered certain.
Caution: A possible trend reversal in the direction of resistance at 0.87925 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 0.87696 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of support at 0.87925 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three Outside Down’ candlestick pattern is discovered. The candles show ‘Three Outside Down’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88530 |
| 2nd High | 0.88038 |
| Next High | 0.87925 |
| Current Price | 0.87857 |
| Next Low | 0.87584 |
| 2nd Low | 0.87354 |
| 3rd Low | 0.87008 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Down