USD/CHF – 1H – SELLThe combination US Dollar/Swiss Franc (USD/CHF) jumps from the ascending trendline downwards
A bearish movement down to the next support level at 0.90227 is certain.
Caution: A possible counter-trend in the direction of the resistance line at 0.90736 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Bearish Belt Hold’ chart pattern is found. The chart shows ‘Bearish Belt Hold’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.90736 |
| Current Price | 0.90733 |
| Next Low | 0.90227 |
| 2nd Low | 0.90099 |
| 3rd Low | 0.89843 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Belt Hold