EUR/CHF – 1H – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) jumps from the descending trendline down.
A continuation of the downtrend downwards to the next support line at 0.93488 is considered certain.
Caution: A possible counter-trend in the direction of the resistance line at 0.93878 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Bearish Engulfing’ candlestick chart pattern is found. The chart forms ‘Bearish Engulfing’. which is a negative chart scenario. The pair is likely to go down. 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 | 0.93999 |
| 2nd High | 0.93886 |
| Next High | 0.93878 |
| Current Price | 0.93713 |
| Next Low | 0.93488 |
| 2nd Low | 0.93390 |
| 3rd Low | 0.93320 |