USD/CHF – 1H – SELLThe combination US Dollar/Swiss Franc (USD/CHF) jumps from the ascending trendline down.
A descending movement down to the next support at 0.89843 is likely expected.
Caution: A possible change in the direction of resistance at should be noted.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bearish Harami’ candle pattern is detected. The chart forms ‘Bearish Harami’. 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 likelyhood of ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 0.90429 |
| Next Low | 0.89843 |
| 2nd Low | 0.89126 |
| 3rd Low | 0.88984 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Harami