EUR/CHF – 30M – SELLThe combination Euro/Swiss Franc (EUR/CHF) goes from the bearish trendline down.
A continuation of the downward movement down to the next support at 0.92860 is likely expected.
Caution: A possible trend reversal in the direction of the resistance line at 0.93385 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three Line Strike – Bearish’ candle pattern is discovered. The candles form ‘Three Line Strike – Bearish’. 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 chance of ‘Three Line Strike – Bearish’ heading down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93440 |
| 2nd High | 0.93407 |
| Next High | 0.93385 |
| Current Price | 0.93084 |
| Next Low | 0.92860 |
| 2nd Low | 0.92696 |
| 3rd Low | 0.92045 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Line Strike – Bearish