USD/CHF – 30M – SELLThe combination US Dollar/Swiss Franc (USD/CHF) goes from the descending trendline down.
A continuation of the bearish trend downwards to the next support line at 0.88202 is certain.
Caution: A possible change in the direction of the resistance level at 0.88815 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Three Black Crows’ candle pattern is discovered. The chart forms ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88997 |
| 2nd High | 0.88872 |
| Next High | 0.88815 |
| Current Price | 0.88161 |
| Next Low | 0.88202 |
| 2nd Low | 0.87971 |
| 3rd Low | 0.87510 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Black Crows