EUR/CHF – 30M – SELLThe pair Euro/Swiss Franc (EUR/CHF) goes from the ascending trendline downwards
The bearish trend downwards to the next support at 0.93410 is likely expected.
Caution: A possible change in the direction of the resistance level at 0.93617 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Bearish Engulfing’ chart pattern is found. The candles form ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to fall. 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 | 0.93607 |
| Next Low | 0.93410 |
| 2nd Low | 0.93385 |
| 3rd Low | 0.93057 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing