USD/CHF – 30M – SELLThe combination US Dollar/Swiss Franc (USD/CHF) goes from the ascending trendline downwards
A bearish movement down to the next support at 0.89172 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.89914 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three Black Crows’ chart pattern is found. The chart forms ‘Three Black Crows’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90214 |
| 2nd High | 0.89975 |
| Next High | 0.89914 |
| Current Price | 0.89280 |
| Next Low | 0.89172 |
| 2nd Low | 0.89171 |
| 3rd Low | 0.89144 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Black Crows