EUR/CHF – 30M – SELLThe combination Euro/Swiss Franc (EUR/CHF) goes from the ascending trendline downwards
A descent down to the next support line at 0.93410 will persist.
Caution: A possible change in the direction of the resistance line at 0.93617 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Bearish Engulfing’ candlestick chart pattern is detected. The candles form ‘Bearish Engulfing’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94176 |
| 2nd High | 0.93879 |
| Next High | 0.93617 |
| Current Price | 0.93576 |
| Next Low | 0.93410 |
| 2nd Low | 0.93385 |
| 3rd Low | 0.93057 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing