USD/CHF – 4H – SELLThe currency pair US Dollar/Swiss Franc (USD/CHF) moves from the ascending trendline downwards
A bearish trend downwards to the next support at 0.89126 will persist.
Caution: A possible counter-trend in the direction of resistance at 0.90214 is within the realm of possibility.
Consider stop-loss settings accordingly.
Also there is a ‘Bearish Engulfing’ candlestick chart pattern is found. The chart shows ‘Bearish Engulfing’. this is a bearish signal. The currency pair is likely to fall. 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 | |
| Next High | 0.90214 |
| Current Price | 0.89955 |
| Next Low | 0.89126 |
| 2nd Low | 0.87354 |
| 3rd Low | 0.87008 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing