EUR/CHF – 1H – SELLThe pair Euro/Swiss Franc (EUR/CHF) moves from the bullish trendline down.
A descent down to the next support level at 0.92701 is likely expected.
Caution: A possible trend reversal in the direction of the resistance level at 0.93021 should be noted.
Consider stop-loss settings accordingly.
Also there is a ‘Bearish Engulfing’ candlestick chart pattern is discovered. The candles form ‘Bearish Engulfing’. this is a bearish pattern signal. The 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 | 0.93262 |
| 2nd High | 0.93222 |
| Next High | 0.93021 |
| Current Price | 0.92717 |
| Next Low | 0.92701 |
| 2nd Low | 0.92584 |
| 3rd Low | 0.92045 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing