USD/CHF – 30M – SELL

The pair US Dollar/Swiss Franc (USD/CHF) jumps from the ascending trendline down.

A descending movement down to the next support line at 0.79263 is considered certain.

Caution: A possible trend reversal in the direction of the resistance zone at 0.80580 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

There is also a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. which could be a negative chart scenario. The currency pair could go down.

Correction of the major bullish trend broke through the Fibonacci 0-Level.Continuation of the current descending trend is considered certain. Current target is 0.80207828 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support level at 0.80580 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

There is also a ‘Three Outside Down’ chart pattern is detected. The candles form ‘Three Outside Down’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

0.80580 – 0.79437 – 0.79864 – 0.79263 – 0.79214 – 0.79003 — 56.867173209541 – 56.059729634542 — 2.412552913842 – 2.412552913842 – 10.655577409218 – 6.936157313837

Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Down – Double bottom chart pattern – –