USD/CHF – 1H – SELLThe pair US Dollar/Swiss Franc (USD/CHF) jumps from the bullish trendline downwards
The bearish trend down to the next support line at 0.87973 is likely expected.
Caution: A possible change in the direction of the resistance level at 0.88868 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Current target is 0.87973 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support zone at 0.88868 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three Black Crows’ candlestick chart pattern is existing. The candles form ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to fall. 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 | 0.89574 |
| 2nd High | 0.88943 |
| Next High | 0.88868 |
| Current Price | 0.88328 |
| Next Low | 0.87973 |
| 2nd Low | 0.87971 |
| 3rd Low | 0.87008 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Black Crows