USD/CHF – 1H – SELLThe currency pair US Dollar/Swiss Franc (USD/CHF) goes from the bearish trendline downwards
A continuation of the downward movement down to the next support at 0.87354 will persist.
Caution: A possible counter-trend in the direction of the resistance level at 0.88038 could occur.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Bearish Engulfing’ candlestick chart pattern is found. The candles show ‘Bearish Engulfing’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88794 |
| 2nd High | 0.88530 |
| Next High | 0.88038 |
| Current Price | 0.87862 |
| Next Low | 0.87354 |
| 2nd Low | 0.87008 |
| 3rd Low | 0.86196 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing