Bearish Engulfing on USD/CHF

Bearish Engulfing on USD/CHF

At the moment there is a growing demand for safe assets. The USD/CHF currency pair opened with a gap down of more than 50 points. The current technical pattern indicates the continuation of the "bearish" sentiment. A classic pattern of the Price Action, Bearish Engulfing, (H1 timeframe) was formed in the trading instrument. We recommend you to pay attention to this situation.

If the price fixes below the 0.95500 mark, you need to look for entry points to the market to open short positions. The immediate goal for fixing profits is a round level of 0.95000. In the medium term, the currency can reach a key support level of 0.94500. When following a position, one should use a trailing stop.

by JustForex, 2017.09.04

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Open Account

Get Free Analytics

* required fields
Last Articles
All Articles
Monetary Policy Statement: What you need to know
Almost every month in the economic calendar, traders can see such events as the monetary policy meeting minutes. As a rule, during the publication of this protocol, the volatility increases sharply. Let's find out what this protocol is and whether it is possible to make money on it.
Read more
Forex Trade in Nigeria: Choosing the Right Timing for Successful Trading
The Nigerian economy is strong and blossoming, so it provides plenty of opportunities for earning, investing, and making more money. Forex trading is one of the ways to multiply your savings, but there are many factors that impact the outcome of your trading. Along with choosing the right currency pair, you need to carefully calculate when to trade (and when not to trade). This article will help you keep track of the best trading periods by the Nigerian time and how to decide when to enter the trades and when to refrain from them.
Read more