USD/CHF – 30M – SELLThe combination US Dollar/Swiss Franc (USD/CHF) goes from the descending trendline down.
A continuation of the bearish trend downwards to the next support line at 0.88202 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 0.88815 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Bearish Engulfing’ candlestick pattern is detected. The candles show ‘Bearish Engulfing’. which is a bearish chart scenario. The currency pair is likely to fall. 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 | 0.88268 |
| Next Low | 0.88202 |
| 2nd Low | 0.87971 |
| 3rd Low | 0.87510 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing