EUR/CHF – 30M – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) jumps from the bullish trendline down.
A bearish movement down to the next support at 0.93952 will persist.
Caution: A possible change in the direction of the resistance line at 0.94398 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Last Engulfing Bottom:’ candle pattern is found. The chart shows ‘Last Engulfing Bottom:’. 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 likelyhood of ‘Last Engulfing Bottom:’ heading down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94423 |
| 2nd High | 0.94407 |
| Next High | 0.94398 |
| Current Price | 0.94219 |
| Next Low | 0.93952 |
| 2nd Low | 0.93814 |
| 3rd Low | 0.93650 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Last Engulfing Bottom: