USD/CHF – 1H – BUYThe pair US Dollar/Swiss Franc (USD/CHF) moves from the bullish trendline down.
A bearish descent down to the next support at 0.89172 will continue.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.89975 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Bullish Engulfing’ candle pattern is detected. The chart forms ‘Bullish Engulfing’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.90214 |
| Next High | 0.89975 |
| Current Price | 0.89473 |
| Next Low | 0.89172 |
| 2nd Low | 0.89171 |
| 3rd Low | 0.89144 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bullish Engulfing