USD/CHF – 1H – SELLThe currency pair US Dollar/Swiss Franc (USD/CHF) moves from the bearish trendline down.
A continuation of the bearish trend downwards to the next support line at 0.89515 will continue.
Caution: A possible counter-trend in the direction of the resistance line at 0.89975 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three Black Crows’ candlestick pattern is discovered. The chart shows ‘Three Black Crows’. which is a bearish 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 Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.90214 |
| Next High | 0.89975 |
| Current Price | 0.89724 |
| Next Low | 0.89515 |
| 2nd Low | 0.89172 |
| 3rd Low | 0.89171 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Black Crows