USD/CHF – 1H – SELLThe pair US Dollar/Swiss Franc (USD/CHF) jumps from the ascending trendline downwards
A bearish descent downwards to the next support at 0.89126 will persist.
Caution: A possible counter-trend in the direction of resistance at 0.90214 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Three Outside Down’ candlestick chart pattern is existing. The chart forms ‘Three Outside Down’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ heading 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