EUR/CHF – 30M – SELLThe pair Euro/Swiss Franc (EUR/CHF) moves from the bearish trendline down.
A continuation of the bearish trend down to the next support line at 0.93046 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.93244 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Bearish Engulfing’ candlestick pattern is existing. The candles form ‘Bearish Engulfing’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93697 |
| 2nd High | 0.93653 |
| Next High | 0.93244 |
| Current Price | 0.93029 |
| Next Low | 0.93046 |
| 2nd Low | 0.93041 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing