EUR/CHF – 4H – SELLThe combination Euro/Swiss Franc (EUR/CHF) jumps from the descending trendline down.
A continuation of the downtrend downwards to the next support at 0.92045 is expected.
Caution: A possible reversal of the trend in the direction of resistance at 0.93262 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Target of the current trend is 0.92490568 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support zone at 0.93262 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Evening Star’ candlestick pattern is found. The chart shows ‘Evening Star’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Evening Star’ going down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93440 |
| 2nd High | 0.93298 |
| Next High | 0.93262 |
| Current Price | 0.92743 |
| Next Low | 0.92045 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Evening Star