USD/CHF – 4H – SELLThe pair US Dollar/Swiss Franc (USD/CHF) jumps from the bullish trendline downwards
A bearish descent downwards to the next support line at 0.89126 will persist.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.90214 could happen.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bearish Engulfing’ candle chart pattern is discovered. The candles show ‘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