USD/CHF – 30M – SELLThe currency pair US Dollar/Swiss Franc (USD/CHF) goes from the bullish trendline downwards
A bearish movement down to the next support line at 0.89144 is expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.89745 could happen.
Consider stop-loss settings accordingly.
In addition a ‘Bearish Engulfing’ candlestick chart pattern is detected. The chart shows ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.89745 |
| Current Price | 0.89230 |
| Next Low | 0.89144 |
| 2nd Low | 0.88984 |
| 3rd Low | 0.88161 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing