USD/CHF – 1H – SELLThe combination US Dollar/Swiss Franc (USD/CHF) goes from the bullish trendline down.
A bearish descent down to the next support line at 0.89144 will persist.
Caution: A possible change in the direction of the resistance zone at 0.89456 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bearish Engulfing’ candle chart pattern is found. The chart forms ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.89574 |
| Next High | 0.89456 |
| Current Price | 0.89174 |
| Next Low | 0.89144 |
| 2nd Low | 0.88161 |
| 3rd Low | 0.88106 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing