USD/CHF – 1H – SELLThe pair US Dollar/Swiss Franc (USD/CHF) moves from the ascending trendline down.
A descent downwards to the next support line at 0.90081 is expected.
Caution: A possible counter-trend in the direction of the resistance zone at 0.91370 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Bearish Belt Hold’ candlestick pattern is discovered. The chart forms ‘Bearish Belt Hold’. 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 probability of ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.91370 |
| Current Price | 0.90314 |
| Next Low | 0.90081 |
| 2nd Low | 0.89843 |
| 3rd Low | 0.89126 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Belt Hold