USD/CHF – 30M – SELLCorrection of the major bullish trend broke through the Fibonacci 0-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 0.8899988 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support zone at 0.89276 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three Black Crows’ candle chart pattern is found. The chart forms ‘Three Black Crows’. this is a bearish 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’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.89574 |
| Next High | 0.89276 |
| Current Price | 0.89165 |
| Next Low | 0.88161 |
| 2nd Low | 0.88106 |
| 3rd Low | 0.87706 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Black Crows