USD/CHF – 1H – SELLThe currency pair US Dollar/Swiss Franc (USD/CHF) goes from the bullish trendline downwards
A bearish movement down to the next support line at 0.90386 is certain.
Caution: A possible change in the direction of the resistance zone at 0.91370 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Current target is 0.906065 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support zone at 0.91370 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Two Crows’ candlestick pattern is existing. The candles show ‘Two Crows’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.91370 |
| Current Price | 0.90921 |
| Next Low | 0.90386 |
| 2nd Low | 0.90227 |
| 3rd Low | 0.90099 |