USD/CHF – 30M – SELLCorrection of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 0.88573 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support level at 0.89175 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three Black Crows’ candlestick chart pattern is existing. The candles show ‘Three Black Crows’. which is a negative chart scenario. The pair is likely to go down. 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 | |
| 2nd High | |
| Next High | 0.89175 |
| Current Price | 0.88774 |
| Next Low | 0.88650 |
| 2nd Low | 0.87971 |
| 3rd Low | 0.87510 |