EUR/CHF – 30M – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) moves from the ascending trendline down.
A descent down to the next support at 0.93544 is considered certain.
Caution: A possible change in the direction of the resistance zone at 0.93778 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Bearish Engulfing’ candle pattern is discovered. The candles show ‘Bearish Engulfing’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93933 |
| 2nd High | 0.93865 |
| Next High | 0.93778 |
| Current Price | 0.93734 |
| Next Low | 0.93544 |
| 2nd Low | 0.93358 |
| 3rd Low | 0.92755 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing