USD/CHF – 30M – SELLThe pair US Dollar/Swiss Franc (USD/CHF) jumps from the bearish trendline downwards
A continuation of the bearish trend down to the next support level at 0.88202 is certain.
Caution: A possible trend reversal in the direction of the resistance level at 0.88815 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Bearish Engulfing’ candle pattern is found. The chart forms ‘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 probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88997 |
| 2nd High | 0.88872 |
| Next High | 0.88815 |
| Current Price | 0.88300 |
| Next Low | 0.88202 |
| 2nd Low | 0.87971 |
| 3rd Low | 0.87510 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing