USD/CHF – 30M – SELLThe pair US Dollar/Swiss Franc (USD/CHF) moves from the bullish trendline downwards
A bearish trend down to the next support level at 0.90224 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 0.91045 should be noted.
Consider stop-loss settings accordingly.
There is also a ‘Bearish Engulfing’ chart pattern is discovered. The chart shows ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.91243 |
| 2nd High | 0.91074 |
| Next High | 0.91045 |
| Current Price | 0.90760 |
| Next Low | 0.90224 |
| 2nd Low | 0.90081 |
| 3rd Low | 0.90022 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing