USD/CHF – 30M – SELLThe pair US Dollar/Swiss Franc (USD/CHF) jumps from the ascending trendline downwards
A descent downwards to the next support at 0.87963 is expected.
Caution: A possible reversal of the trend in the direction of resistance at 0.88868 could occur.
Consider stop-loss settings accordingly.
Moreover a ‘Bearish Meeting Lines’ candlestick chart pattern is found. The chart shows ‘Bearish Meeting Lines’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Meeting Lines’ going down is 51% (Bull Market) & 53% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89168 |
| 2nd High | 0.88943 |
| Next High | 0.88868 |
| Current Price | 0.88771 |
| Next Low | 0.87963 |
| 2nd Low | 0.87952 |
| 3rd Low | 0.87510 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Meeting Lines