USD/CHF – 1H – SELLThe pair US Dollar/Swiss Franc (USD/CHF) moves from the ascending trendline down.
A bearish movement downwards to the next support at 0.89126 will continue.
Caution: A possible change in the direction of resistance at 0.90214 could occur.
Consider stop-loss settings accordingly.
And also a ‘Three Outside Down’ candle chart pattern is detected. The candles show ‘Three Outside Down’. which is a negative 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’ 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