USD/CHF – 30M – SELLThe pair US Dollar/Swiss Franc (USD/CHF) moves from the ascending trendline down.
A bearish descent downwards to the next support level at 0.90227 is considered certain.
Caution: A possible trend reversal in the direction of resistance at 0.90799 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Two Crows’ candlestick chart pattern is found. The chart forms ‘Two Crows’. 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 ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.90799 |
| Current Price | 0.90480 |
| Next Low | 0.90227 |
| 2nd Low | 0.90099 |
| 3rd Low | 0.90022 |