EUR/CHF – 30M – SELLThe pair Euro/Swiss Franc (EUR/CHF) moves from the bearish trendline down.
A continuation of the downtrend down to the next support level at 0.92903 is expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.93027 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Three Black Crows’ chart pattern is discovered. The chart forms ‘Three Black Crows’. which is a negative signal. The 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’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93262 |
| 2nd High | 0.93222 |
| Next High | 0.93027 |
| Current Price | 0.92880 |
| Next Low | 0.92903 |
| 2nd Low | 0.92852 |
| 3rd Low | 0.92768 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Black Crows