EUR/CHF – 30M – SELLThe pair Euro/Swiss Franc (EUR/CHF) goes from the descending trendline down.
A continuation of the bearish trend down to the next support line at 0.92887 is likely expected.
Caution: A possible trend reversal in the direction of the resistance zone at 0.93239 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Bearish Engulfing’ candlestick chart pattern is discovered. The chart shows ‘Bearish Engulfing’. this is a bearish pattern signal. The currency 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 | 0.93255 |
| 2nd High | 0.93242 |
| Next High | 0.93239 |
| Current Price | 0.93088 |
| Next Low | 0.92887 |
| 2nd Low | 0.92884 |
| 3rd Low | 0.92768 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing