EUR/CHF – 4H – SELLThe combination Euro/Swiss Franc (EUR/CHF) jumps from the ascending trendline downwards
The bearish trend downwards to the next support at 0.92859 will continue.
Caution: A possible change in the direction of the resistance level at 0.94407 could occur.
Consider stop-loss settings accordingly.
Furthermore a ‘Bearish Engulfing’ candle pattern is detected. The candles show ‘Bearish Engulfing’. this is a bearish 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 | 0.93616 |
| Next Low | 0.92859 |
| 2nd Low | 0.92555 |
| 3rd Low | 0.92045 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing