EUR/CHF – 1H – SELLThe pair Euro/Swiss Franc (EUR/CHF) goes from the ascending trendline downwards
A bearish trend down to the next support at 0.93506 is considered certain.
Caution: A possible counter-trend in the direction of resistance at 0.93865 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Bearish Engulfing’ chart pattern is existing. The candles form ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93999 |
| 2nd High | 0.93933 |
| Next High | 0.93865 |
| Current Price | 0.93975 |
| Next Low | 0.93506 |
| 2nd Low | 0.92709 |
| 3rd Low | 0.92555 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing