EUR/CHF – 30M – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) moves from the bearish trendline down.
A continuation of the bearish trend downwards to the next support at 0.92768 is considered certain.
Caution: A possible change in the direction of the resistance line at 0.93263 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Bearish Engulfing’ chart pattern is detected. The chart forms ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to fall. 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 | 0.93407 |
| 2nd High | 0.93385 |
| Next High | 0.93263 |
| Current Price | 0.93087 |
| Next Low | 0.92768 |
| 2nd Low | 0.92696 |
| 3rd Low | 0.92045 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing