USD/CHF – 1H – BUYThe pair US Dollar/Swiss Franc (USD/CHF) jumps from the bullish trendline down.
A bearish trend down to the next support line at 0.88294 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 0.88885 could occur.
Consider stop-loss settings accordingly.
There is also a ‘Bullish Engulfing’ candle pattern is existing. The chart forms ‘Bullish Engulfing’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88943 |
| 2nd High | 0.88894 |
| Next High | 0.88885 |
| Current Price | 0.88659 |
| Next Low | 0.88294 |
| 2nd Low | 0.87963 |
| 3rd Low | 0.87952 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bullish Engulfing