EUR/CHF – 30M – SELLThe pair Euro/Swiss Franc (EUR/CHF) moves from the ascending trendline down.
A bearish descent downwards to the next support level at 0.93506 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 0.94103 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Bearish Engulfing’ candlestick chart pattern is found. The candles form ‘Bearish Engulfing’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94608 |
| 2nd High | 0.94423 |
| Next High | 0.94103 |
| Current Price | 0.94032 |
| Next Low | 0.93506 |
| 2nd Low | 0.93358 |
| 3rd Low | 0.92755 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing