EUR/CHF – 30M – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) moves from the descending trendline downwards
A continuation of the downtrend downwards to the next support level at 0.92755 is certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.93418 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Last Engulfing Bottom:’ chart pattern is discovered. The candles form ‘Last Engulfing Bottom:’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Last Engulfing Bottom:’ heading down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93879 |
| 2nd High | 0.93549 |
| Next High | 0.93418 |
| Current Price | 0.93076 |
| Next Low | 0.92755 |
| 2nd Low | 0.92717 |
| 3rd Low | 0.92709 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Last Engulfing Bottom: