The pair US Dollar/Swiss Franc (USD/CHF) jumps from the descending trendline down.
A continuation of the downtrend downwards to the next support line at 0.90224 is considered certain.
Caution: A possible counter-trend in the direction of the resistance line at 0.90969 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Bearish Engulfing’ candle pattern is detected. The candles show ‘Bearish Engulfing’. this is a bearish pattern signal. The currency pair is likely to fall. 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 | 0.91074 |
2nd High | 0.91045 |
Next High | 0.90969 |
Current Price | 0.90917 |
Next Low | 0.90224 |
2nd Low | 0.90081 |
3rd Low | 0.90022 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing