USD/CHF – 1H – SELLThe pair US Dollar/Swiss Franc (USD/CHF) moves from the bearish trendline downwards
A continuation of the downtrend down to the next support at 0.90978 is certain.
Caution: A possible change in the direction of resistance at 0.91306 should be noted.
Consider stop-loss settings accordingly.
There is also a ‘Bearish Engulfing’ candle chart pattern is found. The chart forms ‘Bearish Engulfing’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.91370 |
| Next High | 0.91306 |
| Current Price | 0.91212 |
| Next Low | 0.90978 |
| 2nd Low | 0.90224 |
| 3rd Low | 0.90081 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing