EUR/CHF – 30M – SELLThe pair Euro/Swiss Franc (EUR/CHF) goes from the bullish trendline downwards
A bearish descent downwards to the next support at 0.93410 is considered certain.
Caution: A possible counter-trend in the direction of the resistance zone at 0.93617 could happen.
Consider stop-loss settings accordingly.
There is also a ‘Bearish Engulfing’ candle chart pattern is existing. The candles form ‘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 success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94176 |
| 2nd High | 0.93879 |
| Next High | 0.93617 |
| Current Price | 0.93570 |
| Next Low | 0.93410 |
| 2nd Low | 0.93385 |
| 3rd Low | 0.93057 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing