USD/CHF – 1H – SELLThe currency pair US Dollar/Swiss Franc (USD/CHF) jumps from the bullish trendline down.
A descent down to the next support level at 0.89144 is considered certain.
Caution: A possible change in the direction of resistance at 0.89456 could occur.
Consider stop-loss settings accordingly.
Then a ‘Three Line Strike – Bearish’ candlestick chart pattern is existing. The candles form ‘Three Line Strike – Bearish’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Line Strike – Bearish’ going down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.89574 |
| Next High | 0.89456 |
| Current Price | 0.89240 |
| Next Low | 0.89144 |
| 2nd Low | 0.88161 |
| 3rd Low | 0.88106 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Line Strike – Bearish