USD/CHF – 1H – SELLCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 0.88284176 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support line at 0.88446 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Three Line Strike – Bearish’ candle pattern is discovered. The chart shows ‘Three Line Strike – Bearish’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Line Strike – Bearish’ going down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89175 |
| 2nd High | 0.88997 |
| Next High | 0.88446 |
| Current Price | 0.88418 |
| Next Low | 0.88009 |
| 2nd Low | 0.87971 |
| 3rd Low | 0.87008 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Line Strike – Bearish