EUR/CHF – 30M – SELL

The pair Euro/Swiss Franc (EUR/CHF) jumps from the descending trendline down.

A continuation of the downward movement downwards to the next support at 0.91633 is likely expected.

Caution: A possible trend reversal in the direction of resistance at 0.91832 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Bearish Engulfing’ candle chart pattern is discovered. The chart forms ‘Bearish Engulfing’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.

0.91832 – 0.92112 – 0.92099 – 0.91709 – 0.91633 – 0.91809 —
0.91815 – 0.91661 —
42.425680649159 – 38.760833920379 —
– —
0.91832 – 1769679000

Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Engulfing – Head and Shoulder chart pattern – – – – – – – –