USD/CHF – 1H – SELLCorrection of the major bullish trend broke the Fibonacci 0.79-Level.Continuation of the current descending trend will persist. Target of the current trend is 0.87952 at the Fibonacci level 1-Level. Caution: A possible counter-trend in the direction of the support line at 0.88794 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three Black Crows’ candlestick chart pattern is discovered. The candles form ‘Three Black Crows’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88894 |
| 2nd High | 0.88885 |
| Next High | 0.88794 |
| Current Price | 0.87982 |
| Next Low | 0.87963 |
| 2nd Low | 0.87952 |
| 3rd Low | 0.87008 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Black Crows