USD/CHF – 30M – SELLThe pair US Dollar/Swiss Franc (USD/CHF) moves from the bullish trendline down.
A descending movement downwards to the next support line at 0.87354 is certain.
Caution: A possible counter-trend in the direction of the resistance line at 0.88038 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Bearish Engulfing’ candlestick chart pattern is existing. The candles form ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88794 |
| 2nd High | 0.88530 |
| Next High | 0.88038 |
| Current Price | 0.87931 |
| Next Low | 0.87354 |
| 2nd Low | 0.87008 |
| 3rd Low | 0.86196 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing