EUR/CHF – 4H – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) moves from the bearish trendline downwards
A continuation of the downward movement downwards to the next support level at 0.92584 is certain.
Caution: A possible change in the direction of the resistance level at 0.93262 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Bearish Engulfing’ candlestick pattern is found. The candles form ‘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 likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93440 |
| 2nd High | 0.93298 |
| Next High | 0.93262 |
| Current Price | 0.92669 |
| Next Low | 0.92584 |
| 2nd Low | 0.92045 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing