USD/CHF – 1H – SELLThe pair US Dollar/Swiss Franc (USD/CHF) goes from the descending trendline downwards
A continuation of the bearish trend downwards to the next support line at 0.87354 will persist.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.88038 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Bearish Engulfing’ chart pattern is found. The chart shows ‘Bearish Engulfing’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88794 |
| 2nd High | 0.88530 |
| Next High | 0.88038 |
| Current Price | 0.87849 |
| Next Low | 0.87354 |
| 2nd Low | 0.87008 |
| 3rd Low | 0.86196 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing