USD/CHF – 4H – SELLThe combination US Dollar/Swiss Franc (USD/CHF) jumps from the ascending trendline down.
A bearish descent down to the next support line at 0.87354 is certain.
Caution: A possible counter-trend in the direction of resistance at 0.90214 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three Black Crows’ candle pattern is discovered. The chart shows ‘Three Black Crows’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.90214 |
| Current Price | 0.89473 |
| Next Low | 0.87354 |
| 2nd Low | 0.87008 |
| 3rd Low | 0.86147 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Black Crows