USD/CHF – 30M – SELLThe currency pair US Dollar/Swiss Franc (USD/CHF) moves from the bullish trendline down.
A bearish descent downwards to the next support level at 0.89171 will continue.
Caution: A possible change in the direction of the resistance zone at 0.89745 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Bearish Engulfing’ candlestick pattern is detected. The candles form ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.89745 |
| Current Price | 0.89366 |
| Next Low | 0.89171 |
| 2nd Low | 0.89144 |
| 3rd Low | 0.88984 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing