USD/CHF – 30M – SELLThe currency pair US Dollar/Swiss Franc (USD/CHF) moves from the bullish trendline down.
A bearish trend down to the next support level at 0.90099 will persist.
Caution: A possible counter-trend in the direction of the resistance line at 0.90736 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Bearish Belt Hold’ chart pattern is found. The candles form ‘Bearish Belt Hold’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.90736 |
| Current Price | 0.90236 |
| Next Low | 0.90099 |
| 2nd Low | 0.90022 |
| 3rd Low | 0.89843 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Belt Hold