USD/CHF – 1H – SELLThe currency pair US Dollar/Swiss Franc (USD/CHF) jumps from the ascending trendline downwards
A bearish movement down to the next support line at 0.90099 is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 0.90736 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 0.89931 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support zone at 0.90736 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Two Crows’ candlestick pattern is found. The candles form ‘Two Crows’. which is a negative 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 ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.90736 |
| Current Price | 0.90302 |
| Next Low | 0.90099 |
| 2nd Low | 0.89843 |
| 3rd Low | 0.89126 |