USD/CHF – 30M – SELLThe combination US Dollar/Swiss Franc (USD/CHF) goes from the ascending trendline down.
A descent down to the next support level at 0.89144 is considered certain.
Caution: A possible change in the direction of the resistance level at 0.89321 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Bearish Meeting Lines’ chart pattern is discovered. The chart shows ‘Bearish Meeting Lines’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Meeting Lines’ heading down is 51% (Bull Market) & 53% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89574 |
| 2nd High | 0.89456 |
| Next High | 0.89321 |
| Current Price | 0.89211 |
| Next Low | 0.89144 |
| 2nd Low | 0.88161 |
| 3rd Low | 0.88106 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Meeting Lines