USD/CHF – 1H – SELLThe currency pair US Dollar/Swiss Franc (USD/CHF) jumps from the ascending trendline down.
A bearish descent downwards to the next support line at 0.89126 will persist.
Caution: A possible counter-trend in the direction of the resistance line at 0.90214 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Three Outside Down’ candle pattern is found. The candles show ‘Three Outside Down’. which 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 probability 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