USD/CHF – 30M – SELLThe pair US Dollar/Swiss Franc (USD/CHF) goes from the ascending trendline downwards
A descent down to the next support at 0.88511 is likely expected.
Caution: A possible counter-trend in the direction of resistance at 0.88885 could happen.
Consider stop-loss settings accordingly.
Besides a ‘Bearish Engulfing’ candle pattern is existing. 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’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88943 |
| 2nd High | 0.88894 |
| Next High | 0.88885 |
| Current Price | 0.88518 |
| Next Low | 0.88511 |
| 2nd Low | 0.87963 |
| 3rd Low | 0.87952 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing