USD/CHF – 1H – SELLThe combination US Dollar/Swiss Franc (USD/CHF) moves from the bullish trendline down.
A descending movement downwards to the next support level at 0.88262 will persist.
Caution: A possible trend reversal in the direction of resistance at 0.88794 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Bearish Engulfing’ chart pattern is found. The chart forms ‘Bearish Engulfing’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88894 |
| 2nd High | 0.88885 |
| Next High | 0.88794 |
| Current Price | 0.88349 |
| Next Low | 0.88262 |
| 2nd Low | 0.87963 |
| 3rd Low | 0.87952 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing