USD/CHF – 1H – SELLThe currency pair US Dollar/Swiss Franc (USD/CHF) moves from the descending trendline down.
A continuation of the bearish trend downwards to the next support level at 0.89843 will persist.
Caution: A possible change in the direction of resistance at 0.90098 should be noted.
Consider stop-loss settings accordingly.
Additionally a ‘Bearish Engulfing’ chart pattern is discovered. The chart shows ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90214 |
| 2nd High | 0.90118 |
| Next High | 0.90098 |
| Current Price | 0.89982 |
| Next Low | 0.89843 |
| 2nd Low | 0.89126 |
| 3rd Low | 0.88984 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing