The currency pair US Dollar/Swiss Franc (USD/CHF) jumps from the bullish trendline downwards
A descent down to the next support level at 0.89126 is expected.
Caution: A possible counter-trend in the direction of resistance at 0.90118 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Current target is 0.8967 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of support at 0.90118 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three Black Crows’ candlestick pattern is discovered. The candles show ‘Three Black Crows’. which is a bearish 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’ going down is 82%.
Support & Resistance | Price Range* |
---|---|
3rd High | |
2nd High | 0.90214 |
Next High | 0.90118 |
Current Price | 0.89952 |
Next Low | 0.89126 |
2nd Low | 0.88984 |
3rd Low | 0.88161 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Black Crows