USD/CHF – 1H – SELLThe currency pair US Dollar/Swiss Franc (USD/CHF) jumps from the ascending trendline downwards
A descent down to the next support level at 0.90099 is certain.
Caution: A possible trend reversal in the direction of the resistance level at should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Bearish Engulfing’ candle pattern is found. The candles form ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to fall. 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 | |
| Current Price | 0.90378 |
| Next Low | 0.90099 |
| 2nd Low | 0.89843 |
| 3rd Low | 0.89126 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing