EUR/CHF – 30M – SELL

The combination Euro/Swiss Franc (EUR/CHF) moves from the descending trendline downwards

A continuation of the downward movement downwards to the next support line at 0.93224 will persist.

Caution: A possible trend reversal in the direction of the resistance level at 0.93549 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Current target is 0.93224 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support level at 0.93549 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Bearish Engulfing’ candlestick pattern is existing. The chart forms ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.

Download EUR/CHF Signal Image

Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing