USD/CHF – 1H – SELLThe pair US Dollar/Swiss Franc (USD/CHF) goes from the descending trendline downwards
A continuation of the downtrend downwards to the next support at 0.89515 will persist.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.89975 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Evening Star’ candle chart pattern is found. The chart forms ‘Evening Star’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Evening Star’ heading down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.90214 |
| Next High | 0.89975 |
| Current Price | 0.89771 |
| Next Low | 0.89515 |
| 2nd Low | 0.89172 |
| 3rd Low | 0.89171 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Evening Star