USD/CHF – 30M – SELLThe combination US Dollar/Swiss Franc (USD/CHF) moves from the ascending trendline downwards
A descending movement downwards to the next support line at 0.89771 will persist.
Caution: A possible trend reversal in the direction of the resistance zone at 0.90118 could happen.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bearish Engulfing’ chart pattern is found. The chart shows ‘Bearish Engulfing’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.90214 |
| Next High | 0.90118 |
| Current Price | 0.89961 |
| Next Low | 0.89771 |
| 2nd Low | 0.89126 |
| 3rd Low | 0.88984 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing