USD/CHF – 1H – SELLThe combination US Dollar/Swiss Franc (USD/CHF) goes from the bullish trendline down.
A bearish movement down to the next support level at 0.90227 is expected.
Caution: A possible counter-trend in the direction of the resistance level at 0.90736 is within the realm of possibility.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke through the Fibonacci 0-Level.Continuation of the current descending trend is expected. Target of the current trend is 0.90525252 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support line at 0.90736 is within the realm of possibility.
Consider stop-loss settings accordingly.
Besides a ‘Two Crows’ chart pattern is found. The candles show ‘Two Crows’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.90736 |
| Current Price | 0.90705 |
| Next Low | 0.90227 |
| 2nd Low | 0.90099 |
| 3rd Low | 0.89843 |