USD/CHF – 1H – SELLThe currency pair US Dollar/Swiss Franc (USD/CHF) goes from the ascending trendline down.
A descent downwards to the next support line at 0.89894 will continue.
Caution: A possible counter-trend in the direction of the resistance level at 0.90118 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Bearish Engulfing’ chart pattern is discovered. The chart forms ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.90214 |
| Next High | 0.90118 |
| Current Price | 0.89955 |
| Next Low | 0.89894 |
| 2nd Low | 0.89126 |
| 3rd Low | 0.88984 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing