EUR/CHF – 1H – SELLThe pair Euro/Swiss Franc (EUR/CHF) moves from the descending trendline down.
A continuation of the downtrend downwards to the next support level at 0.93494 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.93697 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three Black Crows’ chart pattern is detected. The chart forms ‘Three Black Crows’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93999 |
| 2nd High | 0.93933 |
| Next High | 0.93697 |
| Current Price | 0.93211 |
| Next Low | 0.93494 |
| 2nd Low | 0.93424 |
| 3rd Low | 0.93390 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Black Crows