EUR/CHF – 30M – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) moves from the bullish trendline down.
A bearish movement downwards to the next support level at 0.93952 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.94398 is also possible.
Consider stop-loss settings accordingly.
And also a ‘Bearish Engulfing’ chart pattern is detected. The candles form ‘Bearish Engulfing’. which is a bearish chart scenario. 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’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94423 |
| 2nd High | 0.94407 |
| Next High | 0.94398 |
| Current Price | 0.94102 |
| Next Low | 0.93952 |
| 2nd Low | 0.93814 |
| 3rd Low | 0.93650 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing