EUR/CHF – 1H – SELLThe pair Euro/Swiss Franc (EUR/CHF) moves from the bullish trendline downwards
The bearish trend down to the next support level at 0.93906 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 0.94407 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Bearish Engulfing’ candle pattern is found. The chart forms ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.94423 |
| Next High | 0.94407 |
| Current Price | 0.94139 |
| Next Low | 0.93906 |
| 2nd Low | 0.93483 |
| 3rd Low | 0.93057 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing