EUR/CHF – 30M – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) jumps from the ascending trendline downwards
A bearish trend downwards to the next support line at 0.92967 will continue.
Caution: A possible counter-trend in the direction of the resistance level at 0.93418 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bearish Engulfing’ candlestick pattern is found. The candles show ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to go down. 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 | 0.93879 |
| 2nd High | 0.93549 |
| Next High | 0.93418 |
| Current Price | 0.93233 |
| Next Low | 0.92967 |
| 2nd Low | 0.92859 |
| 3rd Low | 0.92755 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing