USD/CHF – 4H – SELLThe combination US Dollar/Swiss Franc (USD/CHF) goes from the bullish trendline down.
A bearish descent downwards to the next support at 0.89126 will continue.
Caution: A possible counter-trend in the direction of the resistance zone at 0.90214 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Bearish Engulfing’ chart pattern is existing. The chart shows ‘Bearish Engulfing’. which is a negative pattern signal. 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 | |
| Next High | 0.90214 |
| Current Price | 0.89955 |
| Next Low | 0.89126 |
| 2nd Low | 0.87354 |
| 3rd Low | 0.87008 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing