EUR/CHF – 30M – SELLThe pair Euro/Swiss Franc (EUR/CHF) moves from the descending trendline down.
A continuation of the downtrend down to the next support at 0.93494 will continue.
Caution: A possible change in the direction of the resistance line at 0.93697 could be enabled.
Consider stop-loss settings accordingly.
Furthermore a ‘Bearish Engulfing’ candle chart pattern is discovered. The candles form ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to go down. 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 | 0.93999 |
| 2nd High | 0.93933 |
| Next High | 0.93697 |
| Current Price | 0.93553 |
| Next Low | 0.93494 |
| 2nd Low | 0.93424 |
| 3rd Low | 0.93390 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing