USD/CHF – 30M – SELLNext a ‘Rising Wedge Chart Pattern’ chart layout is detected. The chart picture shows ‘Rising Wedge Chart Pattern’. which is a negative chart scenario. The currency pair is likely to go down.
The currency pair US Dollar/Swiss Franc (USD/CHF) goes from the bullish trendline downwards
A descent downwards to the next support level at 0.80503 is expected.
Caution: A possible counter-trend in the direction of resistance at 0.80924 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. which is often a bearish signal. The pair is likely to go down.
Next a ‘Shooting Star’ candle chart pattern is detected. The candles form ‘Shooting Star’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Shooting Star’ heading down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.81310 |
| 2nd High | 0.81257 |
| Next High | 0.80924 |
| Current Price | 0.80508 |
| Next Low | 0.80503 |
| 2nd Low | 0.79263 |
| 3rd Low | 0.79214 |
0.80924 – 0.80580 – 0.79437 – 0.80503 – 0.79263 – 0.79214 — 31.928097415685 – 31.616608098075 — 17.165450630901 – 22.965111072328 – 18.500074876097 – 20.444732443406
Trading Signals: FOREX – USD – USD/CHF – CHF – Shooting Star – Rising Wedge Chart Pattern – –