EUR/CHF – 1H – SELL

The combination Euro/Swiss Franc (EUR/CHF) jumps from the bullish trendline down.

A descent downwards to the next support level at 0.92153 is expected.

Caution: A possible reversal of the trend in the direction of the resistance line at 0.92328 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

Then a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. which could be a negative chart signal. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 1-Level.Continuation of the current descending trend is expected. Target of the current trend is 0.92267894 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the support level at 0.92328 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

Then a ‘Bearish Engulfing’ chart pattern is detected. The candles form ‘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 success rate of a ‘Bearish Engulfing’ heading down is 79%.

0.92328 – 0.92349 – 0.92274 – 0.92153 – 0.9217 – 0.9197 —
0.92312 – 0.92299 —
56.734986191098 – 51.354399876138 —
– —
0.92328 – 1782867600

Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing – – – – – – – – –