USD/CHF – 30M – SELLThe combination US Dollar/Swiss Franc (USD/CHF) goes from the bearish trendline down.
A continuation of the bearish trend downwards to the next support line at 0.89843 is likely expected.
Caution: A possible change in the direction of the resistance level at 0.90098 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Last Engulfing Bottom:’ candlestick chart pattern is discovered. The chart forms ‘Last Engulfing Bottom:’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Last Engulfing Bottom:’ heading down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90214 |
| 2nd High | 0.90118 |
| Next High | 0.90098 |
| Current Price | 0.90012 |
| Next Low | 0.89843 |
| 2nd Low | 0.89771 |
| 3rd Low | 0.89126 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Last Engulfing Bottom: