EUR/CHF – 1H – SELLThe pair Euro/Swiss Franc (EUR/CHF) moves from the ascending trendline downwards
A descent downwards to the next support at 0.92709 will continue.
Caution: A possible counter-trend in the direction of resistance at 0.93436 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Bearish Engulfing’ candle chart pattern is detected. The chart forms ‘Bearish Engulfing’. which is a negative signal. The currency 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 | 0.93653 |
| 2nd High | 0.93440 |
| Next High | 0.93436 |
| Current Price | 0.93403 |
| Next Low | 0.92709 |
| 2nd Low | 0.92555 |
| 3rd Low | 0.92045 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing