EUR/CHF – 1H – SELLThe pair Euro/Swiss Franc (EUR/CHF) moves from the descending trendline downwards
A continuation of the downtrend down to the next support at 0.93041 will continue.
Caution: A possible counter-trend in the direction of the resistance line at 0.93697 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bearish Engulfing’ candle chart pattern is existing. The chart shows ‘Bearish Engulfing’. which is a negative pattern signal. The 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%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93999 |
| 2nd High | 0.93933 |
| Next High | 0.93697 |
| Current Price | 0.93537 |
| Next Low | 0.93041 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing