USD/CHF – 30M – SELLThe currency pair US Dollar/Swiss Franc (USD/CHF) goes from the ascending trendline down.
A bearish descent down to the next support at 0.90099 is certain.
Caution: A possible change in the direction of the resistance zone at 0.91045 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Bearish Engulfing’ candlestick pattern is existing. The candles form ‘Bearish Engulfing’. 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 success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91243 |
| 2nd High | 0.91074 |
| Next High | 0.91045 |
| Current Price | 0.90174 |
| Next Low | 0.90099 |
| 2nd Low | 0.90022 |
| 3rd Low | 0.89843 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing