USD/CHF – 30M – SELLThe pair US Dollar/Swiss Franc (USD/CHF) jumps from the ascending trendline down.
A bearish descent down to the next support line at 0.82663 is expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.83346 should always be considered.
Consider stop-loss settings accordingly.
Besides a ‘Two Crows’ candlestick pattern is detected. The candles form ‘Two Crows’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
Besides a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. which is often a bearish chart scenario. The pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.85834 |
| 2nd High | 0.85745 |
| Next High | 0.83346 |
| Current Price | 0.82865 |
| Next Low | 0.82663 |
| 2nd Low | 0.82533 |
| 3rd Low | 0.82391 |
0.83119 – 0.83346 – 0.82880 – 0.82663 – 0.82533 – 0.82391