USD/CHF – 1H – BUYThe combination US Dollar/Swiss Franc (USD/CHF) jumps from the bullish trendline down.
A bearish trend downwards to the next support level at 0.87973 will continue.
Caution: A possible trend reversal in the direction of resistance at 0.88478 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Bullish Engulfing’ candlestick chart pattern is existing. The candles show ‘Bullish Engulfing’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88943 |
| 2nd High | 0.88868 |
| Next High | 0.88478 |
| Current Price | 0.88111 |
| Next Low | 0.87973 |
| 2nd Low | 0.87971 |
| 3rd Low | 0.87008 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bullish Engulfing