USD/CHF – 1H – SELLThe pair US Dollar/Swiss Franc (USD/CHF) jumps from the ascending trendline downwards
A descent downwards to the next support at 0.82663 will persist.
Caution: A possible counter-trend in the direction of the resistance level at 0.83346 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three Outside Down’ candle chart pattern is detected. The chart shows ‘Three Outside Down’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
Next a ‘Resistance Level’ indicator layout is existing. The indicator is ‘Resistance Level’. which could be a negative chart scenario. The currency pair could go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.86736 |
| 2nd High | 0.85834 |
| Next High | 0.83346 |
| Current Price | 0.82999 |
| Next Low | 0.82663 |
| 2nd Low | 0.82391 |
| 3rd Low | 0.81969 |
0.83346 – 0.83110 – 0.82871 – 0.82663 – 0.82391 – 0.81969
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Down