EUR/CHF – 1H – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) jumps from the bullish trendline down.
A descending movement downwards to the next support at 0.93506 is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 0.94423 could happen.
Consider stop-loss settings accordingly.
Besides a ‘Bearish Engulfing’ candlestick pattern is detected. The candles form ‘Bearish Engulfing’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94787 |
| 2nd High | 0.94608 |
| Next High | 0.94423 |
| Current Price | 0.94032 |
| Next Low | 0.93506 |
| 2nd Low | 0.92709 |
| 3rd Low | 0.92555 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing