EUR/CHF – 1H – SELLThe pair Euro/Swiss Franc (EUR/CHF) goes from the ascending trendline downwards
A bearish movement downwards to the next support line at 0.93506 is certain.
Caution: A possible trend reversal in the direction of resistance at 0.93999 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Bearish Engulfing’ candle chart pattern is discovered. The candles show ‘Bearish Engulfing’. this 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 | 0.94608 |
| 2nd High | 0.94423 |
| Next High | 0.93999 |
| Current Price | 0.94021 |
| Next Low | 0.93506 |
| 2nd Low | 0.92709 |
| 3rd Low | 0.92555 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing