EUR/CHF – 1H – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) goes from the descending trendline downwards
A continuation of the downtrend downwards to the next support at 0.92768 is expected.
Caution: A possible trend reversal in the direction of the resistance level at 0.93233 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Bearish Engulfing’ candle chart pattern is found. The chart forms ‘Bearish Engulfing’. which is a negative pattern 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’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93440 |
| 2nd High | 0.93263 |
| Next High | 0.93233 |
| Current Price | 0.93177 |
| Next Low | 0.92768 |
| 2nd Low | 0.92696 |
| 3rd Low | 0.92045 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing