EUR/CHF – 1H – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) moves from the bullish trendline down.
A bearish trend down to the next support at 0.92911 is expected.
Caution: A possible trend reversal in the direction of the resistance level at 0.93262 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Bearish Engulfing’ candlestick chart pattern is found. The candles show ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93440 |
| 2nd High | 0.93298 |
| Next High | 0.93262 |
| Current Price | 0.92900 |
| Next Low | 0.92911 |
| 2nd Low | 0.92884 |
| 3rd Low | 0.92768 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing