USD/CHF – 1H – SELLThe currency pair US Dollar/Swiss Franc (USD/CHF) jumps from the bullish trendline downwards
The bearish trend down to the next support line at 0.87008 is certain.
Caution: A possible counter-trend in the direction of the resistance line at 0.88530 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is certain. Current target is 0.87774 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support level at 0.88530 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three Black Crows’ candle pattern is discovered. The candles form ‘Three Black Crows’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88885 |
| 2nd High | 0.88794 |
| Next High | 0.88530 |
| Current Price | 0.87511 |
| Next Low | 0.87008 |
| 2nd Low | 0.86196 |
| 3rd Low | 0.86157 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Black Crows