EUR/CHF – 1H – SELLThe combination Euro/Swiss Franc (EUR/CHF) jumps from the bearish trendline down.
A continuation of the bearish trend downwards to the next support line at 0.92911 is likely expected.
Caution: A possible trend reversal in the direction of resistance at 0.93245 is within the realm of possibility.
Consider stop-loss settings accordingly.
There is also a ‘Bearish Engulfing’ candlestick pattern is detected. The chart shows ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to fall. 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 | 0.93298 |
| 2nd High | 0.93255 |
| Next High | 0.93245 |
| Current Price | 0.93146 |
| Next Low | 0.92911 |
| 2nd Low | 0.92884 |
| 3rd Low | 0.92768 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing