EUR/CHF – 30M – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) goes from the descending trendline down.
A continuation of the bearish trend downwards to the next support at 0.92555 will persist.
Caution: A possible trend reversal in the direction of the resistance line at 0.92753 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Bearish Engulfing’ candlestick chart pattern is found. The chart shows ‘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 probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93027 |
| 2nd High | 0.93021 |
| Next High | 0.92753 |
| Current Price | 0.92984 |
| Next Low | 0.92555 |
| 2nd Low | 0.92045 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing