EUR/CHF – 30M – SELLThe combination Euro/Swiss Franc (EUR/CHF) moves from the bearish trendline down.
A continuation of the downward movement down to the next support line at 0.92555 is considered certain.
Caution: A possible trend reversal in the direction of the resistance level at 0.92753 is within the realm of possibility.
Consider stop-loss settings accordingly.
Next a ‘Bearish Engulfing’ candle chart pattern is discovered. The chart shows ‘Bearish Engulfing’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93027 |
| 2nd High | 0.93021 |
| Next High | 0.92753 |
| Current Price | 0.92944 |
| Next Low | 0.92555 |
| 2nd Low | 0.92045 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing