USD/CHF – 30M – SELLThe pair US Dollar/Swiss Franc (USD/CHF) goes from the bullish trendline down.
A bearish descent down to the next support level at 0.89297 is considered certain.
Caution: A possible change in the direction of the resistance line at 0.89745 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Bearish Engulfing’ candle chart pattern is found. The chart shows ‘Bearish Engulfing’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.89745 |
| Current Price | 0.89482 |
| Next Low | 0.89297 |
| 2nd Low | 0.88984 |
| 3rd Low | 0.88161 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing