EUR/CHF – 30M – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) jumps from the bullish trendline down.
A bearish movement down to the next support at 0.93506 will continue.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.94176 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Bearish Engulfing’ candlestick chart pattern is detected. The candles form ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to fall. 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 | 0.94608 |
| 2nd High | 0.94423 |
| Next High | 0.94176 |
| Current Price | 0.94056 |
| Next Low | 0.93506 |
| 2nd Low | 0.93358 |
| 3rd Low | 0.92755 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing