EUR/CHF – 30M – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) goes from the ascending trendline downwards
A bearish descent down to the next support at 0.92884 is certain.
Caution: A possible counter-trend in the direction of resistance at 0.93242 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Bearish Engulfing’ candlestick pattern is discovered. The chart forms ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to fall. 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 | 0.93298 |
| 2nd High | 0.93255 |
| Next High | 0.93242 |
| Current Price | 0.92935 |
| Next Low | 0.92884 |
| 2nd Low | 0.92768 |
| 3rd Low | 0.92696 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing