USD/CHF – 1H – SELLThe combination US Dollar/Swiss Franc (USD/CHF) goes from the ascending trendline down.
A bearish trend down to the next support at 0.89894 is likely expected.
Caution: A possible reversal of the trend in the direction of resistance at 0.90118 could happen.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three Outside Down’ candle pattern is detected. The candles form ‘Three Outside Down’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.90214 |
| Next High | 0.90118 |
| Current Price | 0.89969 |
| Next Low | 0.89894 |
| 2nd Low | 0.89126 |
| 3rd Low | 0.88984 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Down