USD/CHF – 30M – SELLThe pair US Dollar/Swiss Franc (USD/CHF) moves from the descending trendline down.
A continuation of the downward movement downwards to the next support at 0.87774 will continue.
Caution: A possible trend reversal in the direction of the resistance zone at 0.87967 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Three Outside Down’ chart pattern is discovered. The chart forms ‘Three Outside Down’. which is a bearish signal. 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’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88794 |
| 2nd High | 0.88530 |
| Next High | 0.87967 |
| Current Price | 0.87660 |
| Next Low | 0.87774 |
| 2nd Low | 0.87510 |
| 3rd Low | 0.87008 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Down