EUR/CHF – 1H – SELLThe pair Euro/Swiss Franc (EUR/CHF) jumps from the descending trendline down.
A continuation of the bearish trend down to the next support level at 0.93716 is likely expected.
Caution: A possible trend reversal in the direction of the resistance line at 0.94193 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Two-Candle Shooting Star’ candlestick chart pattern is detected. The candles form ‘Two-Candle Shooting Star’. which 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 ‘Two-Candle Shooting Star’ heading down is 61% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94407 |
| 2nd High | 0.94398 |
| Next High | 0.94193 |
| Current Price | 0.93900 |
| Next Low | 0.93716 |
| 2nd Low | 0.93650 |
| 3rd Low | 0.93489 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Two-Candle Shooting Star