USD/CHF – 4H – SELLThe pair US Dollar/Swiss Franc (USD/CHF) goes from the bullish trendline downwards
A descent down to the next support line at 0.89126 is expected.
Caution: A possible trend reversal 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.
There is also a ‘Bearish Engulfing’ candle pattern is detected. The candles form ‘Bearish Engulfing’. which is a bearish chart scenario. The currency pair is likely to go down. 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