USD/CHF – 30M – SELLThe pair US Dollar/Swiss Franc (USD/CHF) moves from the descending trendline down.
A continuation of the downtrend down to the next support at 0.88163 will continue.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.88868 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bearish Engulfing’ candle pattern is discovered. The chart forms ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.89168 |
| 2nd High | 0.88943 |
| Next High | 0.88868 |
| Current Price | 0.88149 |
| Next Low | 0.88163 |
| 2nd Low | 0.88139 |
| 3rd Low | 0.88009 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing