USD/CHF – 1H – SELLThe pair US Dollar/Swiss Franc (USD/CHF) goes from the ascending trendline downwards
The bearish trend downwards to the next support level at 0.89126 will persist.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.90214 could happen.
Consider stop-loss settings accordingly.
Additionally a ‘Three Outside Down’ chart pattern is detected. The candles form ‘Three Outside Down’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.90214 |
| Current Price | 0.89955 |
| Next Low | 0.89126 |
| 2nd Low | 0.88984 |
| 3rd Low | 0.88161 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Down