USD/CHF – 1H – SELL

The currency pair US Dollar/Swiss Franc (USD/CHF) jumps from the bullish trendline downwards

A descent down to the next support line at 0.81562 will persist.

Caution: A possible counter-trend in the direction of the resistance zone at 0.82344 could occur.
Consider stop-loss settings accordingly.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will persist. Current target is 0.81615 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 0.82344 could occur.
Consider stop-loss settings accordingly.

Moreover a ‘Three Outside Down’ candle pattern is found. The candles show ‘Three Outside Down’. which 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 ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

0.81467 – 0.81337 – 0.81481 – 0.81562 – 0.81201 – 0.80886

Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Down