EUR/CHF – 1H – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) moves from the descending trendline down.
A continuation of the bearish trend down to the next support line at 0.92922 is certain.
Caution: A possible counter-trend in the direction of the resistance level at 0.93242 could be enabled.
Consider stop-loss settings accordingly.
Next a ‘Bearish Engulfing’ candle pattern is detected. The chart shows ‘Bearish Engulfing’. which is a bearish pattern 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’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93298 |
| 2nd High | 0.93255 |
| Next High | 0.93242 |
| Current Price | 0.92950 |
| Next Low | 0.92922 |
| 2nd Low | 0.92768 |
| 3rd Low | 0.92696 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing