USD/CHF – 1H – SELL

Moreover a ‘Resistance Level’ indicator signal is detected. The indicator shows ‘Resistance Level’. which could be a negative signal. The currency pair could go down.

Correction of the major bearish trend halted around the Fibonacci 1-Level.Continuation of the current descending trend will continue. Current target is 0.78406096 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of the support level at 0.78585 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Bearish Engulfing’ candlestick pattern is existing. The candles form ‘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 probability of ‘Bearish Engulfing’ going down is 79%.

0.78585 – 0.78257 – 0.78392 – 0.77918 – 0.77826 – 0.77751 —
0.78559 – 0.78519 —
69.715584039582 – 60.693790404504 —
– —
0.78585 – 1776913200

Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing – Rising Wedge Chart Pattern – – – – – – – –