USD/CHF – 30M – SELLThe pair US Dollar/Swiss Franc (USD/CHF) jumps from the ascending trendline down.
A bearish trend down to the next support at 0.89515 will continue.
Caution: A possible change in the direction of resistance at 0.89914 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Bearish Engulfing’ candle chart pattern is existing. The chart shows ‘Bearish Engulfing’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90214 |
| 2nd High | 0.89975 |
| Next High | 0.89914 |
| Current Price | 0.89525 |
| Next Low | 0.89515 |
| 2nd Low | 0.89172 |
| 3rd Low | 0.89171 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing