USD/CHF – 30M – SELLThe currency pair US Dollar/Swiss Franc (USD/CHF) jumps from the bullish trendline down.
A bearish movement downwards to the next support at 0.90227 will continue.
Caution: A possible trend reversal in the direction of resistance at 0.90799 is within the realm of possibility.
Consider stop-loss settings accordingly.
Then a ‘Bearish Engulfing’ candlestick chart pattern is detected. The candles show ‘Bearish Engulfing’. 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 ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.90799 |
| Current Price | 0.90602 |
| Next Low | 0.90227 |
| 2nd Low | 0.90099 |
| 3rd Low | 0.90022 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing