USD/CHF – 30M – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) moves from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support at 0.87774 is certain.
Caution: A possible trend reversal in the direction of resistance at 0.88530 is within the realm of possibility.
Consider stop-loss settings accordingly.
Moreover a ‘Three Outside Down’ candle pattern is existing. The chart forms ‘Three Outside Down’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88885 |
| 2nd High | 0.88794 |
| Next High | 0.88530 |
| Current Price | 0.87752 |
| Next Low | 0.87774 |
| 2nd Low | 0.87510 |
| 3rd Low | 0.87008 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Down