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

We recommend you to have a look at the actual figures of technical analysis.

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.