USD/CHF – 30M – SELLThe currency pair US Dollar/Swiss Franc (USD/CHF) moves from the descending trendline down.
A continuation of the downtrend down to the next support line at 0.88246 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.88698 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend broke through the Fibonacci 0-Level.Continuation of the current descending trend will continue. Current target is 0.88566076 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support zone at 0.88698 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Three Black Crows’ candle pattern is found. The candles form ‘Three Black Crows’. 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 Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88872 |
| 2nd High | 0.88815 |
| Next High | 0.88698 |
| Current Price | 0.88581 |
| Next Low | 0.88246 |
| 2nd Low | 0.88207 |
| 3rd Low | 0.88139 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Black Crows