USD/CHF – 1H – SELLThe pair US Dollar/Swiss Franc (USD/CHF) moves from the ascending trendline downwards
A bearish movement down to the next support line at 0.89126 is considered certain.
Caution: A possible change in the direction of resistance at 0.90016 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Bearish Engulfing’ candle pattern is found. The candles show ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.90214 |
| Next High | 0.90016 |
| Current Price | 0.89902 |
| Next Low | 0.89126 |
| 2nd Low | 0.88984 |
| 3rd Low | 0.88161 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing