USD/CHF – 30M – SELLThe currency pair US Dollar/Swiss Franc (USD/CHF) moves from the bearish trendline downwards
A continuation of the downtrend down to the next support line at 0.89515 will persist.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.89975 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Evening Star’ chart pattern is discovered. The candles form ‘Evening Star’. this 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 likelyhood of ‘Evening Star’ going down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.90214 |
| Next High | 0.89975 |
| Current Price | 0.89836 |
| Next Low | 0.89515 |
| 2nd Low | 0.89172 |
| 3rd Low | 0.89171 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Evening Star