USD/CHF – 1H – BUYThe pair US Dollar/Swiss Franc (USD/CHF) goes from the bullish trendline downwards
A bearish trend down to the next support at 0.90099 will continue.
Caution: A possible counter-trend in the direction of the resistance level at 0.91370 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend will continue. Current target is 0.90099 at the Fibonacci level 1-Level. Caution: A possible counter-trend in the direction of the support line at 0.91370 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Two Crows’ candle pattern is found. The candles show ‘Two Crows’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.91370 |
| Current Price | 0.90174 |
| Next Low | 0.90099 |
| 2nd Low | 0.89843 |
| 3rd Low | 0.89126 |