USD/CHF – 30M – BUYThe combination US Dollar/Swiss Franc (USD/CHF) goes from the bullish trendline downwards
The bearish trend down to the next support level at 0.90081 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 0.90595 could be enabled.
Consider stop-loss settings accordingly.
In addition a ‘Bullish Engulfing’ candle pattern is existing. The candles show ‘Bullish Engulfing’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91074 |
| 2nd High | 0.91045 |
| Next High | 0.90595 |
| Current Price | 0.90377 |
| Next Low | 0.90081 |
| 2nd Low | 0.90022 |
| 3rd Low | 0.89843 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bullish Engulfing