EUR/CHF – 30M – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) moves from the descending trendline down.
A continuation of the downtrend downwards to the next support level at 0.93062 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.93263 is also possible.
Consider stop-loss settings accordingly.
Additionally a ‘Bearish Engulfing’ chart pattern is found. The chart shows ‘Bearish Engulfing’. which is a negative 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 | 0.93407 |
| 2nd High | 0.93385 |
| Next High | 0.93263 |
| Current Price | 0.93150 |
| Next Low | 0.93062 |
| 2nd Low | 0.92768 |
| 3rd Low | 0.92696 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing