USD/CHF – 30M – SELLThe combination US Dollar/Swiss Franc (USD/CHF) goes from the bearish trendline down.
A continuation of the downtrend downwards to the next support line at 0.91123 is likely expected.
Caution: A possible trend reversal in the direction of the resistance line at 0.91298 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Outside Down’ chart pattern is found. The chart forms ‘Three Outside Down’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91370 |
| 2nd High | 0.91306 |
| Next High | 0.91298 |
| Current Price | 0.91237 |
| Next Low | 0.91123 |
| 2nd Low | 0.91065 |
| 3rd Low | 0.90978 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Down