USD/CHF – 1H – SELL

The currency pair US Dollar/Swiss Franc (USD/CHF) goes from the descending trendline down.

A continuation of the bearish trend down to the next support at 0.77649 is considered certain.

Caution: A possible trend reversal in the direction of the resistance line at 0.78253 is within the realm of possibility.
Consider stop-loss settings accordingly.

Also there is a ‘Bearish Engulfing’ candle chart pattern is found. The candles show ‘Bearish Engulfing’. which is a negative 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’ going down is 79%.

0.77919 – 0.78253 – 0.78272 – 0.77649 – 0.77478 – 0.77595 —
0.78055 – 0.78222 —
64.519644062978 – 65.669712069134 —
– —
0.77919 – 1773180000

Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing – – – – – – – – –