USD/CHF – 1H – SELL

The pair US Dollar/Swiss Franc (USD/CHF) goes from the ascending trendline downwards

A descending movement downwards to the next support line at 0.78697 is likely expected.

Caution: A possible reversal of the trend in the direction of resistance at 0.79841 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Bearish Engulfing’ chart pattern is detected. The candles show ‘Bearish Engulfing’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.

0.79588 – 0.79241 – 0.79243 – 0.78697 – 0.78342 – 0.7855 —
0.79909 – 0.79909 —
70.396734496401 – 60.586241026651 —
– —
0.79588 – 1774566000

Trading Signals: FOREX – USD – USD/CHF – CHF – Bearish Engulfing – – – – – – – – –