USD/CHF – 30M – SELLThe pair US Dollar/Swiss Franc (USD/CHF) moves from the bullish trendline down.
A bearish descent down to the next support level at 0.88360 is likely expected.
Caution: A possible change in the direction of the resistance zone at 0.88619 could occur.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Bearish Engulfing’ chart pattern is detected. 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 likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88872 |
| 2nd High | 0.88815 |
| Next High | 0.88619 |
| Current Price | 0.88403 |
| Next Low | 0.88360 |
| 2nd Low | 0.88139 |
| 3rd Low | 0.88009 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing