USD/CHF – 30M – SELLThe combination US Dollar/Swiss Franc (USD/CHF) jumps from the descending trendline down.
A continuation of the bearish trend downwards to the next support at 0.79558 is considered certain.
Caution: A possible change in the direction of the resistance zone at 0.79792 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke the Fibonacci 0.79-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 0.79558 at the Fibonacci level 1-Level. Caution: A possible change in the direction of the support zone at 0.79792 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three Black Crows’ chart pattern is found. The candles show ‘Three Black Crows’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.80555 |
| 2nd High | 0.80113 |
| Next High | 0.79792 |
| Current Price | 0.79743 |
| Next Low | 0.79558 |
| 2nd Low | 0.79263 |
| 3rd Low | 0.79214 |
0.79792 – 0.80113 – 0.80555 – 0.79558 – 0.80269 – 0.79974 — 59.638345888225 – 58.613241752012 — 27.655697481417 – 4.7376777080176 – 41.732217170624 – 25.161170046427
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Black Crows – – –