USD/CHF – 4H – SELLThe pair US Dollar/Swiss Franc (USD/CHF) moves from the bullish trendline down.
A descent downwards to the next support line at 0.87354 will persist.
Caution: A possible reversal of the trend in the direction of resistance at 0.90214 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Target of the current trend is 0.88611 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support zone at 0.90214 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Three Black Crows’ candlestick pattern is detected. The candles show ‘Three Black Crows’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.90214 |
| Current Price | 0.89280 |
| Next Low | 0.87354 |
| 2nd Low | 0.87008 |
| 3rd Low | 0.86147 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Black Crows