USD/CHF – 30M – SELLThe pair US Dollar/Swiss Franc (USD/CHF) goes from the ascending trendline downwards
A bearish descent down to the next support level at 0.87706 is likely expected.
Caution: A possible reversal of the trend in the direction of resistance at 0.88530 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Bearish Engulfing’ candle pattern is found. The candles form ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to fall. 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 | 0.88885 |
| 2nd High | 0.88794 |
| Next High | 0.88530 |
| Current Price | 0.88273 |
| Next Low | 0.87706 |
| 2nd Low | 0.87584 |
| 3rd Low | 0.87354 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing