USD/CHF – 30M – SELL

The pair US Dollar/Swiss Franc (USD/CHF) jumps from the ascending trendline down.

A bearish movement downwards to the next support level at 0.77492 is considered certain.

Caution: A possible reversal of the trend in the direction of the resistance zone at 0.77888 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘StochRSI %K line crosses below %D line’ indicator layout is detected. The indicator is ‘StochRSI %K line crosses below %D line’. which could be a negative chart scenario. The currency pair could go down.

Next a ‘Bearish Engulfing’ candle pattern is detected. The candles form ‘Bearish Engulfing’. which is a negative 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’ going down is 79%.

0.77755 – 0.7772 – 0.77656 – 0.77492 – 0.77455 – 0.77383 —
0.77702 – 0.77819 —
52.698156390088 – 63.784164898057 —
– —
0.77755 – 1770229800

Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing – – – – – – – – –