USD/CHF – 1H – SELLThe combination US Dollar/Swiss Franc (USD/CHF) goes from the bullish trendline down.
A bearish trend down to the next support at 0.90797 will continue.
Caution: A possible counter-trend in the direction of the resistance level at 0.91370 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Last Engulfing Top’ candlestick chart pattern is existing. The chart forms ‘Last Engulfing Top’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.91370 |
| Current Price | 0.90951 |
| Next Low | 0.90797 |
| 2nd Low | 0.90386 |
| 3rd Low | 0.90227 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Last Engulfing Top