USD/CHF – 30M – SELLThe combination US Dollar/Swiss Franc (USD/CHF) moves from the bullish trendline down.
A bearish trend down to the next support at 0.89172 is likely expected.
Caution: A possible counter-trend in the direction of the resistance level at 0.89914 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Bearish Engulfing’ chart pattern is found. The chart shows ‘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 success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90214 |
| 2nd High | 0.89975 |
| Next High | 0.89914 |
| Current Price | 0.89195 |
| Next Low | 0.89172 |
| 2nd Low | 0.89171 |
| 3rd Low | 0.89144 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing