USD/CHF – 1H – SELLFurthermore a ‘Double bottom retreat down’ chart layout is found. The chart forms ‘Double bottom retreat down’. this is a bearish pattern signal. The currency pair is likely to fall.
The combination US Dollar/Swiss Franc (USD/CHF) goes from the ascending trendline down.
A descending movement downwards to the next support at 0.79438 is considered certain.
Caution: A possible counter-trend in the direction of resistance at 0.79674 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘MACD crosses below signal’ indicator signal is found. The indicator is ‘MACD crosses below signal’. which is often a bearish chart signal. The currency pair could go down.
Furthermore a ‘Resistance Level’ indicator signal is found. The indicator is ‘Resistance Level’. which could be a negative chart scenario. The currency pair could go down.
Correction of the major bearish trend halted around the Fibonacci 1-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 0.7953169 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the support level at 0.79674 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Northern Doji’ candle chart pattern is detected. The candles form ‘Northern Doji’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.80821 |
| 2nd High | 0.79873 |
| Next High | 0.79674 |
| Current Price | 0.79586 |
| Next Low | 0.79438 |
| 2nd Low | 0.79044 |
| 3rd Low | 0.79009 |
0.79592 – 0.79674 – 0.79408 – 0.79438 – 0.79044 – 0.79009 —
0.79519 – 0.79598 —
55.163678971233 – 59.714818268587 —
– —
0.79592 – 1767733200
Trading Signals: FOREX – USD – USD/CHF – CHF – Northern Doji – Double bottom retreat down – – – – – – – –