EUR/CHF – 1H – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) goes from the bearish trendline downwards
A continuation of the downtrend downwards to the next support at 0.92911 will persist.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.93245 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Bearish Engulfing’ candlestick chart pattern is found. The chart shows ‘Bearish Engulfing’. which is a bearish signal. 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 | 0.93298 |
| 2nd High | 0.93255 |
| Next High | 0.93245 |
| Current Price | 0.93165 |
| Next Low | 0.92911 |
| 2nd Low | 0.92884 |
| 3rd Low | 0.92768 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing