USD/CHF – 1H – SELL

Additionally a ‘StochRSI %K line crosses below %D line’ indicator signal is detected. The indicator is ‘StochRSI %K line crosses below %D line’. which could be a negative chart signal. The currency pair could go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Current target is 0.78438 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 0.79227 could happen.
Consider stop-loss settings accordingly.

Additionally a ‘Bearish Engulfing’ chart pattern is found. The chart shows ‘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 success rate of a ‘Bearish Engulfing’ going down is 79%.

0.79227 – 0.79166 – 0.77919 – 0.78648 – 0.78609 – 0.7801 —
0.78837 – 0.78893 —
41.846997578179 – 53.116374146319 —
0.78648 – 1773694800 —
0.79227 – 1773655200

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