USD/CHF – 4H – SELLThe combination US Dollar/Swiss Franc (USD/CHF) moves from the descending trendline down.
A continuation of the downtrend down to the next support line at 0.79151 is certain.
Caution: A possible reversal of the trend in the direction of resistance at 0.80069 is within the realm of possibility.
Consider stop-loss settings accordingly.
In addition a ‘Three Black Crows’ candlestick chart pattern is discovered. The chart forms ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.80762 |
| 2nd High | 0.80716 |
| Next High | 0.80069 |
| Current Price | 0.79496 |
| Next Low | 0.79151 |
| 2nd Low | 0.78718 |
| 3rd Low |
0.80069 – 0.80716 – 0.80762 – 0.79151 – 0.79837 – 0.8 — 43.027034776004 – 37.774819314536 — 20.739494979039 – 11.170420200838 – 25.58821617757 – 19.381073088297
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Black Crows – Symmetrical Triangle Chart Pattern – –