USD/CHF – 1H – SELLThe pair US Dollar/Swiss Franc (USD/CHF) goes from the ascending trendline downwards
A descent downwards to the next support level at 0.90386 is likely expected.
Caution: A possible change in the direction of the resistance zone at 0.91370 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bearish Engulfing’ candlestick chart pattern is detected. The chart forms ‘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 likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.91370 |
| Current Price | 0.90914 |
| Next Low | 0.90386 |
| 2nd Low | 0.90227 |
| 3rd Low | 0.90099 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing