EUR/CHF – 1H – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) goes from the ascending trendline downwards
The bearish trend down to the next support line at 0.93906 is certain.
Caution: A possible change in the direction of resistance at 0.94407 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Bearish Engulfing’ chart pattern is discovered. The chart forms ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.94423 |
| Next High | 0.94407 |
| Current Price | 0.94022 |
| Next Low | 0.93906 |
| 2nd Low | 0.93483 |
| 3rd Low | 0.93057 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing