USD/CHF – 30M – SELLThe combination US Dollar/Swiss Franc (USD/CHF) goes from the descending trendline downwards
A continuation of the bearish trend downwards to the next support at 0.76354 is certain.
Caution: A possible change in the direction of the resistance line at 0.76999 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bearish Engulfing’ candle pattern is discovered. The candles form ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.77272 |
| 2nd High | 0.77057 |
| Next High | 0.76999 |
| Current Price | 0.76783 |
| Next Low | 0.76354 |
| 2nd Low | 0.76283 |
| 3rd Low | 0.76027 |
0.76999 – 0.77057 – 0.77272 – 0.76354 – 0.76483 – 0.76465 —
0.76958 – 0.76864 —
61.915982540193 – 60.16990554584 —
– —
0.76999 – 1769745600
Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing – – – – – – – – –