EUR/CHF – 30M – SELLThe pair Euro/Swiss Franc (EUR/CHF) moves from the descending trendline down.
A continuation of the bearish trend down to the next support line at 0.92755 is expected.
Caution: A possible counter-trend in the direction of resistance at 0.93549 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Bearish Engulfing’ candle pattern is detected. The chart shows ‘Bearish Engulfing’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94176 |
| 2nd High | 0.93879 |
| Next High | 0.93549 |
| Current Price | 0.93181 |
| Next Low | 0.92755 |
| 2nd Low | 0.92717 |
| 3rd Low | 0.92709 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing