EUR/CHF – 1H – SELLThe combination Euro/Swiss Franc (EUR/CHF) moves from the bullish trendline down.
A descent downwards to the next support level at 0.92852 is certain.
Caution: A possible reversal of the trend in the direction of resistance at 0.93222 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Current target is 0.92852 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support level at 0.93222 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Three Black Crows’ candle pattern is found. The chart forms ‘Three Black Crows’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93298 |
| 2nd High | 0.93262 |
| Next High | 0.93222 |
| Current Price | 0.92857 |
| Next Low | 0.92852 |
| 2nd Low | 0.92768 |
| 3rd Low | 0.92696 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Black Crows