USD/CHF – 30M – SELLThe pair US Dollar/Swiss Franc (USD/CHF) jumps from the ascending trendline downwards
A descent down to the next support level at 0.89297 is considered certain.
Caution: A possible change in the direction of the resistance level at should be noted.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Bearish Engulfing’ candlestick chart pattern is found. The candles form ‘Bearish Engulfing’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 0.89646 |
| Next Low | 0.89297 |
| 2nd Low | 0.88984 |
| 3rd Low | 0.88161 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing