EUR/CHF – 30M – SELLThe combination Euro/Swiss Franc (EUR/CHF) jumps from the ascending trendline downwards
A descent down to the next support line at 0.93483 is certain.
Caution: A possible counter-trend in the direction of the resistance level at 0.93666 should always be considered.
Consider stop-loss settings accordingly.
Moreover a ‘Bearish Engulfing’ candlestick 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 probability 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 | 0.93532 |
| Next Low | 0.93483 |
| 2nd Low | 0.93410 |
| 3rd Low | 0.93385 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing