EUR/CHF – 1H – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) jumps from the ascending trendline down.
A bearish movement downwards to the next support level at 0.92696 will continue.
Caution: A possible reversal of the trend in the direction of resistance at 0.93263 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bearish Engulfing’ candlestick chart pattern is found. The candles show ‘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 probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93653 |
| 2nd High | 0.93440 |
| Next High | 0.93263 |
| Current Price | 0.92840 |
| Next Low | 0.92696 |
| 2nd Low | 0.92045 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing