USD/CHF – 30M – SELLThe pair US Dollar/Swiss Franc (USD/CHF) goes from the ascending trendline down.
The bearish trend downwards to the next support line at 0.87510 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 0.87944 could happen.
Consider stop-loss settings accordingly.
Then a ‘Bearish Engulfing’ candlestick pattern is detected. The chart forms ‘Bearish Engulfing’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88794 |
| 2nd High | 0.88530 |
| Next High | 0.87944 |
| Current Price | 0.87765 |
| Next Low | 0.87510 |
| 2nd Low | 0.87008 |
| 3rd Low | 0.86196 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing