USD/CHF – 1H – SELLThe currency pair US Dollar/Swiss Franc (USD/CHF) goes from the descending trendline downwards
A continuation of the bearish trend down to the next support level at 0.79937 will persist.
Caution: A possible trend reversal in the direction of the resistance line at 0.80762 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is detected. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bearish chart signal. The currency pair is likely to fall.
Next a ‘Resistance Level’ indicator signal is found. The indicator shows ‘Resistance Level’. which could be a negative signal. The pair is likely to go down.
Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Target of the current trend is 0.8011355 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the support line at 0.80762 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three Black Crows’ candle pattern is detected. The candles form ‘Three Black Crows’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.81936 |
| 2nd High | 0.81036 |
| Next High | 0.80762 |
| Current Price | 0.80317 |
| Next Low | 0.79937 |
| 2nd Low | 0.79214 |
| 3rd Low | 0.79003 |
0.80303 – 0.80762 – 0.80721 – 0.79937 – 0.80253 – 0.8 — 44.624623098408 – 42.718005473504 — 30.313798194115 – 10.284272324647 – 38.966709009968 – 27.635870498163
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Black Crows – – –