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Usdchfprediction

USDCHF Next Possible MoveTechnical Analysis Chart Update USD / CHF ( U.S Dollar / Swiss Franc ) Time Frame - H3 Rising Wedge in Long Time Frame #LTF and Rejecting from the Lower Trend Line #LTL and Daily Resistance Level Elliot Waves - Completed " 123 " Impulsive waves in Long Time Frame #LTF , it will follow Sell Trend to complete its " 4th " wave Completed the Impulsive Wave " 12345 " and it will Follow Sell to make its Corrective Wave " ABC " Selling Divergence in #RSI
by ForexDetective
USD/CHF: Three black crows erase head-and-shoulders bottomThe dollar-franc pair ( USD/CHF ) is recording its third straight day of losses, and is about to form a "three black crows" pattern, which is characterized by three consecutive bearish red candlesticks with lower highs and lower lows. A three black crows pattern typically indicates a bull trend reversal and a shift in trader sentiment. This pattern formation on USD/CHF also invalidates the false bullish signal that had been given by the formation of a head and shoulder bottom earlier this month. MACD also shows a bearish crossover. The last time it happened in July the pair extended the downside movement.  USD/CHF is now testing the lows of August 19 and the next support is given by the psychological level of 0.95 which also corresponds to August 18's lows. Fibonacci retracement between August 11 lows and September 6 highs has already exceeded the 50% key mark and now stands at 38.2%. Below 0.95, next supports are given by 0.9491 (23.6% Fibonacci) and 0.9372 which would then complete the retracement to July lows. Idea written by Piero Cingari, forex and commodity analyst at Capital.com
by Capitalcom