USD/CHF – 30M – SELLThe pair US Dollar/Swiss Franc (USD/CHF) goes from the ascending trendline downwards
A bearish movement downwards to the next support line at 0.91123 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.91732 could happen.
Consider stop-loss settings accordingly.
Moreover a ‘Bearish Engulfing’ candle chart pattern is found. The candles form ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.92007 |
| Next High | 0.91732 |
| Current Price | 0.91246 |
| Next Low | 0.91123 |
| 2nd Low | 0.91065 |
| 3rd Low | 0.90978 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing