A bearish trade opportunity recently presented itself on the euro-swissy trading chart 📉.
This is indicated by the bearish engulfing candlestick pattern just below the descending trend line 📉; the bearish candle also closed below the 0.96597 horizontal resistance level.
This shows a rejection of the same trend line 📉, with potential price move in the downward ⬇️ 👇 direction; even though the wicks of the two preceding candlesticks overshot the trend line.
Sufficient downward momentum should see price dumping towards the 0.95400 psychological level and possibly testing the strength of the 0.95235 horizontal support level.
As always, please apply appropriate risk management.
Happy trading!
This is indicated by the bearish engulfing candlestick pattern just below the descending trend line 📉; the bearish candle also closed below the 0.96597 horizontal resistance level.
This shows a rejection of the same trend line 📉, with potential price move in the downward ⬇️ 👇 direction; even though the wicks of the two preceding candlesticks overshot the trend line.
Sufficient downward momentum should see price dumping towards the 0.95400 psychological level and possibly testing the strength of the 0.95235 horizontal support level.
As always, please apply appropriate risk management.
Happy trading!
