EUR/CHF – 30M – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) goes from the descending trendline downwards
A continuation of the downward movement down to the next support level at 0.93519 will persist.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.93697 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Bearish Engulfing’ candlestick pattern is detected. The chart shows ‘Bearish Engulfing’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93999 |
| 2nd High | 0.93933 |
| Next High | 0.93697 |
| Current Price | 0.93576 |
| Next Low | 0.93519 |
| 2nd Low | 0.93494 |
| 3rd Low | 0.93424 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing