EUR/CHF – 1H – SELLThe combination Euro/Swiss Franc (EUR/CHF) moves from the descending trendline down.
A continuation of the downward movement down to the next support level at 0.92709 will persist.
Caution: A possible trend reversal in the direction of the resistance level at 0.93879 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bearish Engulfing’ candlestick pattern is found. The chart forms ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94423 |
| 2nd High | 0.94176 |
| Next High | 0.93879 |
| Current Price | 0.93198 |
| Next Low | 0.92709 |
| 2nd Low | 0.92555 |
| 3rd Low | 0.92045 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing