USD/CHF – 1H – SELLThe currency pair US Dollar/Swiss Franc (USD/CHF) jumps from the bullish trendline down.
A bearish trend downwards to the next support at 0.90386 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 0.91370 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bearish Engulfing’ chart pattern is detected. The candles form ‘Bearish Engulfing’. which is a bearish chart scenario. The 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 | 0.91370 |
| Current Price | 0.90910 |
| Next Low | 0.90386 |
| 2nd Low | 0.90227 |
| 3rd Low | 0.90099 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing