USD/CHF – 30M – SELLThe combination US Dollar/Swiss Franc (USD/CHF) moves from the bearish trendline down.
A continuation of the downtrend downwards to the next support at 0.88294 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 0.88756 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three Black Crows’ candlestick chart pattern is existing. The candles form ‘Three Black Crows’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88894 |
| 2nd High | 0.88885 |
| Next High | 0.88756 |
| Current Price | 0.88675 |
| Next Low | 0.88294 |
| 2nd Low | 0.87963 |
| 3rd Low | 0.87952 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Black Crows