USD/CHF – 1H – SELLThe currency pair US Dollar/Swiss Franc (USD/CHF) goes from the bullish trendline down.
A bearish descent down to the next support at 0.88161 will continue.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.89574 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Bearish Engulfing’ candle chart pattern is existing. The chart forms ‘Bearish Engulfing’. which is a bearish pattern signal. 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 | |
| 2nd High | |
| Next High | 0.89574 |
| Current Price | 0.89288 |
| Next Low | 0.88161 |
| 2nd Low | 0.88106 |
| 3rd Low | 0.87706 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing