USD/CHF – 30M – SELLThe combination US Dollar/Swiss Franc (USD/CHF) moves from the ascending trendline downwards
A descending movement downwards to the next support level at 0.88161 is considered certain.
Caution: A possible change in the direction of resistance at 0.89276 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bearish Engulfing’ candle chart pattern is found. The chart forms ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.89574 |
| Next High | 0.89276 |
| Current Price | 0.89367 |
| Next Low | 0.88161 |
| 2nd Low | 0.88106 |
| 3rd Low | 0.87706 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing