USD/CHF – 30M – SELLThe pair US Dollar/Swiss Franc (USD/CHF) goes from the descending trendline downwards
A continuation of the bearish trend downwards to the next support line at 0.88589 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 0.88872 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Three Black Crows’ candlestick chart pattern is detected. The candles form ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to go down. 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 | 0.89175 |
| 2nd High | 0.88997 |
| Next High | 0.88872 |
| Current Price | 0.88576 |
| Next Low | 0.88589 |
| 2nd Low | 0.87971 |
| 3rd Low | 0.87510 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Black Crows