USD/CHF – 30M – BUYThe currency pair US Dollar/Swiss Franc (USD/CHF) moves from the bullish trendline down.
A bearish movement down to the next support line at 0.89515 is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 0.89975 could happen.
Consider stop-loss settings accordingly.
Besides a ‘Bullish Engulfing’ candlestick chart pattern is existing. The chart shows ‘Bullish Engulfing’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.90214 |
| Next High | 0.89975 |
| Current Price | 0.89807 |
| Next Low | 0.89515 |
| 2nd Low | 0.89172 |
| 3rd Low | 0.89171 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bullish Engulfing