USD/CHF – 1H – SELLThe currency pair US Dollar/Swiss Franc (USD/CHF) jumps from the ascending trendline down.
The bearish trend downwards to the next support line at 0.89172 will persist.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.89975 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Bearish SBS White Lines’ candlestick pattern is discovered. The chart forms ‘Bearish SBS White Lines’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.90214 |
| Next High | 0.89975 |
| Current Price | 0.89454 |
| Next Low | 0.89172 |
| 2nd Low | 0.89171 |
| 3rd Low | 0.89144 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish SBS White Lines