EUR/CHF – 1H – SELLThe pair Euro/Swiss Franc (EUR/CHF) moves from the ascending trendline down.
A bearish movement downwards to the next support line at 0.93483 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.93810 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bearish Engulfing’ candle pattern is existing. The chart forms ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94176 |
| 2nd High | 0.93879 |
| Next High | 0.93810 |
| Current Price | 0.93615 |
| Next Low | 0.93483 |
| 2nd Low | 0.93057 |
| 3rd Low | 0.92859 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing