EUR/CHF – 30M – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) moves from the ascending trendline down.
A bearish descent downwards to the next support level at 0.93506 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.94176 is within the realm of possibility.
Consider stop-loss settings accordingly.
Next a ‘Three Black Crows’ candle chart pattern is existing. The candles show ‘Three Black Crows’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94608 |
| 2nd High | 0.94423 |
| Next High | 0.94176 |
| Current Price | 0.93590 |
| Next Low | 0.93506 |
| 2nd Low | 0.93358 |
| 3rd Low | 0.92755 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Black Crows