EUR/CHF – 1H – SELLThe pair Euro/Swiss Franc (EUR/CHF) jumps from the ascending trendline downwards
A bearish trend down to the next support level at 0.92696 will persist.
Caution: A possible counter-trend in the direction of the resistance line at 0.93263 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Bearish Engulfing’ candlestick chart pattern is detected. The candles show ‘Bearish Engulfing’. which is a negative chart scenario. 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 | 0.93653 |
| 2nd High | 0.93440 |
| Next High | 0.93263 |
| Current Price | 0.92854 |
| Next Low | 0.92696 |
| 2nd Low | 0.92045 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing