EUR/CHF – 30M – SELLThe combination Euro/Swiss Franc (EUR/CHF) jumps from the ascending trendline downwards
The bearish trend down to the next support at 0.93066 is certain.
Caution: A possible counter-trend in the direction of the resistance level at 0.93194 could occur.
Consider stop-loss settings accordingly.
Additionally a ‘Bearish Engulfing’ candlestick pattern is found. The chart forms ‘Bearish Engulfing’. which 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 | 0.93245 |
| Next High | 0.93194 |
| Current Price | 0.93122 |
| Next Low | 0.93066 |
| 2nd Low | 0.92911 |
| 3rd Low | 0.92887 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing