USD/CHF – 30M – SELLThe pair US Dollar/Swiss Franc (USD/CHF) moves from the ascending trendline downwards
The bearish trend downwards to the next support line at 0.88162 is likely expected.
Caution: A possible change in the direction of the resistance line at 0.88530 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Bearish Engulfing’ candle pattern is detected. The candles show ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88885 |
| 2nd High | 0.88794 |
| Next High | 0.88530 |
| Current Price | 0.88348 |
| Next Low | 0.88162 |
| 2nd Low | 0.87706 |
| 3rd Low | 0.87584 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing