USD/CHF – 1H – SELLThe pair US Dollar/Swiss Franc (USD/CHF) goes from the bearish trendline downwards
A continuation of the bearish trend down to the next support level at 0.79779 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 0.80178 could happen.
Consider stop-loss settings accordingly.
In addition a ‘Northern Doji’ chart pattern is existing. The chart shows ‘Northern Doji’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.81936 |
| 2nd High | 0.80799 |
| Next High | 0.80178 |
| Current Price | 0.79851 |
| Next Low | 0.79779 |
| 2nd Low | |
| 3rd Low |
0.80178 – 0.80799 – 0.81936 – 0.79779 – 0.80400 – 0.80344
Trading Signals: FOREX – USD – USD/CHF – CHF – Northern Doji – Inverse Head and Shoulder chart pattern