USD/CHF – 30M – BUYCorrection of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend will continue. Current target is 0.8899988 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support line at 0.89276 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three Outside Down’ candle pattern is discovered. The chart shows ‘Three Outside Down’. which 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 Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.89574 |
| Next High | 0.89276 |
| Current Price | 0.89271 |
| Next Low | 0.88161 |
| 2nd Low | 0.88106 |
| 3rd Low | 0.87706 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Down