USD/CHF – 1H – SELLThe pair US Dollar/Swiss Franc (USD/CHF) moves from the descending trendline downwards
A continuation of the downtrend downwards to the next support at 0.79937 is considered certain.
Caution: A possible trend reversal in the direction of resistance at 0.80762 is within the realm of possibility.
Consider stop-loss settings accordingly.
Additionally a ‘Support Level’ indicator signal is existing. The indicator is ‘Support Level’. this is usually a bearish chart signal. The currency pair could go down.
Additionally a ‘Three Outside Down’ chart pattern is existing. The chart forms ‘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 likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.81936 |
| 2nd High | 0.81036 |
| Next High | 0.80762 |
| Current Price | 0.80265 |
| Next Low | 0.79937 |
| 2nd Low | 0.79214 |
| 3rd Low | 0.79003 |
0.80303 – 0.80762 – 0.80721 – 0.79937 – 0.80253 – 0.8 — 59.80658840993 – 52.294241227359 — 55.094306628116 – 33.239758245843 – 71.438238467227 – 55.006646509156
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Outside Down – Double bottom retreat down – –