USD/CHF – 1H – SELLThe currency pair US Dollar/Swiss Franc (USD/CHF) goes from the bullish trendline down.
A bearish descent downwards to the next support level at 0.90224 will persist.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.91370 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Last Engulfing Top’ candle chart pattern is existing. The chart shows ‘Last Engulfing Top’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Last Engulfing Top’ going down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.91370 |
| Current Price | 0.91027 |
| Next Low | 0.90224 |
| 2nd Low | 0.90081 |
| 3rd Low | 0.89843 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Last Engulfing Top