USD/CHF – 30M – SELLThe combination US Dollar/Swiss Franc (USD/CHF) jumps from the bearish trendline down.
A continuation of the bearish trend down to the next support line at 0.89894 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.90118 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Bearish Engulfing’ candle pattern is found. The candles form ‘Bearish Engulfing’. this is a bearish signal. The 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 | 0.90214 |
| Next High | 0.90118 |
| Current Price | 0.89977 |
| Next Low | 0.89894 |
| 2nd Low | 0.89771 |
| 3rd Low | 0.89126 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing