USD/CHF – 1H – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) jumps from the descending trendline down.
A continuation of the bearish trend downwards to the next support level at 0.90224 will continue.
Caution: A possible counter-trend in the direction of the resistance level at 0.91280 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Two Crows’ chart pattern is existing. The candles form ‘Two Crows’. which is a bearish signal. The currency pair is likely to fall. 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 | 0.91370 |
| Next High | 0.91280 |
| Current Price | 0.91150 |
| Next Low | 0.90224 |
| 2nd Low | 0.90081 |
| 3rd Low | 0.89843 |