USD/CHF – 4H – SELLThe combination US Dollar/Swiss Franc (USD/CHF) jumps from the ascending trendline down.
A bearish movement downwards to the next support line at 0.89126 is expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.91370 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Three Black Crows’ candle pattern is found. The candles show ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.91370 |
| Current Price | 0.90174 |
| Next Low | 0.89126 |
| 2nd Low | 0.87354 |
| 3rd Low | 0.87008 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Black Crows