EUR/CHF – 30M – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) goes from the ascending trendline down.
A bearish movement downwards to the next support line at 0.93553 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 0.94176 could happen.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Bearish Engulfing’ candlestick pattern is discovered. The candles show ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94608 |
| 2nd High | 0.94423 |
| Next High | 0.94176 |
| Current Price | 0.93718 |
| Next Low | 0.93553 |
| 2nd Low | 0.93506 |
| 3rd Low | 0.93358 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing