USD/CHF – 30M – SELLThe currency pair US Dollar/Swiss Franc (USD/CHF) jumps from the bearish trendline down.
A continuation of the downtrend downwards to the next support level at 0.79003 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.79478 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Two Crows’ candlestick pattern is found. The chart forms ‘Two Crows’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.80113 |
| 2nd High | 0.79991 |
| Next High | 0.79478 |
| Current Price | 0.78953 |
| Next Low | 0.79003 |
| 2nd Low | 0.78718 |
| 3rd Low |
0.79478 – 0.79991 – 0.79913 – 0.79462 – 0.79482 – 0.79605 — 31.848903196922 – 24.465718431533 — 61.547530255787 – 72.122369831359 – 42.771101087448 – 59.896598381537
Trading Signals: FOREX – USD – USD/CHF – CHF – Two Crows – – –