USD/CHF – 30M – SELLThe pair US Dollar/Swiss Franc (USD/CHF) jumps from the ascending trendline downwards
A descending movement downwards to the next support at 0.89771 is likely expected.
Caution: A possible reversal of the trend in the direction of resistance at 0.90083 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three Black Crows’ candle chart pattern is found. The candles show ‘Three Black Crows’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.90214 |
| Next High | 0.90083 |
| Current Price | 0.89955 |
| Next Low | 0.89771 |
| 2nd Low | 0.89126 |
| 3rd Low | 0.88984 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Black Crows