USD/CHF – 1H – SELLThe currency pair US Dollar/Swiss Franc (USD/CHF) moves from the ascending trendline down.
A bearish trend downwards to the next support level at 0.89126 will continue.
Caution: A possible trend reversal in the direction of the resistance level at 0.90214 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Outside Down’ candlestick pattern is detected. The candles show ‘Three Outside Down’. this is a bearish chart scenario. The currency pair is likely to fall. 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