USD/CHF – 30M – SELLThe currency pair US Dollar/Swiss Franc (USD/CHF) moves from the ascending trendline down.
A descending movement down to the next support line at 0.88246 will persist.
Caution: A possible counter-trend in the direction of the resistance level at 0.88698 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Bearish Engulfing’ candlestick pattern is discovered. The chart forms ‘Bearish Engulfing’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88872 |
| 2nd High | 0.88815 |
| Next High | 0.88698 |
| Current Price | 0.88794 |
| Next Low | 0.88246 |
| 2nd Low | 0.88207 |
| 3rd Low | 0.88139 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing