USD/CHF – 30M – SELLThe combination goes from the ascending trendline downwards
A descending movement down to the next support line at 0.86431 is certain.
Caution: A possible counter-trend in the direction of resistance at 0.86996 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 0.86431 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support zone at 0.86996 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
The chart formed a ‘Three White Soldiers’ candlestick pattern, which means 3 higher candles in a row.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.86996 |
| Current Price | 0.86543 |
| Next Low | 0.86431 |
| 2nd Low | 0.86327 |
| 3rd Low | 0.86296 |