EUR/CHF – 30M – SELLThe pair Euro/Swiss Franc (EUR/CHF) goes from the ascending trendline downwards
A bearish movement down to the next support line at 0.93483 is likely expected.
Caution: A possible trend reversal in the direction of the resistance level at 0.93666 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Bearish Engulfing’ chart pattern is existing. The chart shows ‘Bearish Engulfing’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94176 |
| 2nd High | 0.93879 |
| Next High | 0.93666 |
| Current Price | 0.93551 |
| Next Low | 0.93483 |
| 2nd Low | 0.93410 |
| 3rd Low | 0.93385 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing