USD/CHF – 4H – SELL

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

A continuation of the bearish trend downwards to the next support level at 0.78306 is certain.

Caution: A possible trend reversal in the direction of the resistance level at 0.79339 could happen.
Consider stop-loss settings accordingly.

In addition a ‘Bearish Engulfing’ candle chart pattern is detected. The candles form ‘Bearish Engulfing’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.

0.78763 – 0.78454 – 0.79339 – 0.78306 – 0.77749 – 0.779 —
0.79157 – 0.78262 —
70.675027128342 – 32.107012692908 —
– —
0.78763 – 1777017600

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