The currency pair Euro/Swiss Franc (EUR/CHF) moves from the descending trendline down.
A continuation of the downtrend down to the next support level at 0.92922 is certain.
Caution: A possible counter-trend in the direction of the resistance line at 0.93242 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Evening Star’ candle pattern is discovered. The candles form ‘Evening Star’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Evening Star’ heading down is 72% (Bull & Bear Market).
Support & Resistance | Price Range* |
---|---|
3rd High | 0.93298 |
2nd High | 0.93255 |
Next High | 0.93242 |
Current Price | 0.93085 |
Next Low | 0.92922 |
2nd Low | 0.92768 |
3rd Low | 0.92696 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Evening Star