The pair US Dollar/Swiss Franc (USD/CHF) goes from the bullish trendline downwards
The bearish trend downwards to the next support line at 0.87706 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 0.88530 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Evening Star’ candle chart pattern is discovered. The chart shows ‘Evening Star’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Evening Star’ heading down is 72% (Bull & Bear Market).
Support & Resistance | Price Range* |
---|---|
3rd High | 0.88885 |
2nd High | 0.88794 |
Next High | 0.88530 |
Current Price | 0.88346 |
Next Low | 0.87706 |
2nd Low | 0.87584 |
3rd Low | 0.87354 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Evening Star