USD/CHF – 4H – SELLThe combination US Dollar/Swiss Franc (USD/CHF) moves from the ascending trendline down.
The bearish trend down to the next support at 0.89126 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance level at is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Bearish Belt Hold’ candle pattern is discovered. The candles form ‘Bearish Belt Hold’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 0.90445 |
| Next Low | 0.89126 |
| 2nd Low | 0.87354 |
| 3rd Low | 0.87008 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Belt Hold