USD/CHF – 30M – SELLThe combination US Dollar/Swiss Franc (USD/CHF) jumps from the bullish trendline down.
A bearish movement down to the next support line at 0.89771 is expected.
Caution: A possible change in the direction of the resistance level at 0.90214 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bearish Engulfing’ candle pattern is discovered. The candles show ‘Bearish Engulfing’. which is a negative 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 | |
| 2nd High | |
| Next High | 0.90214 |
| Current Price | 0.90054 |
| Next Low | 0.89771 |
| 2nd Low | 0.89126 |
| 3rd Low | 0.88984 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing