EUR/CHF – 4H – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) moves from the ascending trendline down.
A descending movement downwards to the next support at 0.93297 will persist.
Caution: A possible change in the direction of the resistance line at 0.94407 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bearish Engulfing’ candle pattern is existing. The candles show ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.94423 |
| Next High | 0.94407 |
| Current Price | 0.94102 |
| Next Low | 0.93297 |
| 2nd Low | 0.92859 |
| 3rd Low | 0.92555 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing