USD/CHF – 30M – SELL

The currency pair US Dollar/Swiss Franc (USD/CHF) goes from the descending trendline downwards

A continuation of the downward movement down to the next support at 0.7783 is likely expected.

Caution: A possible counter-trend in the direction of the resistance line at 0.78329 could occur.
Consider stop-loss settings accordingly.

In addition a ‘Support Level’ indicator layout is detected. The indicator shows ‘Support Level’. which is often a bearish chart signal. The currency pair is likely to fall.

In addition a ‘Last Engulfing Bottom:’ candle pattern is detected. The candles show ‘Last Engulfing Bottom:’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Last Engulfing Bottom:’ heading down is 65% (Bull Market) & 67% (Bear Market).

0.78329 – 0.7848 – 0.78474 – 0.78079 – 0.78128 – 0.78198 —
0.78166 – 0.78197 —
32.901432515127 – 36.704368255782 —
– —
0.78329 – 1778029200

Trading Signals: FOREX – USD – USD/CHF – CHF – Last Engulfing Bottom: – – – – – – – – –