EUR/CHF – 1H – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) jumps from the descending trendline down.
A continuation of the downtrend downwards to the next support level at 0.92584 will continue.
Caution: A possible trend reversal in the direction of the resistance level at 0.93021 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Three Black Crows’ candlestick pattern is existing. The chart shows ‘Three Black Crows’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93262 |
| 2nd High | 0.93222 |
| Next High | 0.93021 |
| Current Price | 0.92650 |
| Next Low | 0.92584 |
| 2nd Low | 0.92045 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Black Crows