USD/CHF – 1H – SELLThe pair US Dollar/Swiss Franc (USD/CHF) goes from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support level at 0.90224 will persist.
Caution: A possible change in the direction of the resistance zone at 0.91370 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Bearish Engulfing’ candle pattern is found. The candles form ‘Bearish Engulfing’. which is a negative chart scenario. The 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 | |
| 2nd High | |
| Next High | 0.91370 |
| Current Price | 0.90907 |
| Next Low | 0.90224 |
| 2nd Low | 0.90081 |
| 3rd Low | 0.89843 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing