EUR/CHF – 4H – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) jumps from the ascending trendline down.
A bearish descent down to the next support level at 0.92555 is certain.
Caution: A possible reversal of the trend in the direction of resistance at 0.94176 is within the realm of possibility.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 0.931105 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of support at 0.94176 is within the realm of possibility.
Consider stop-loss settings accordingly.
And also a ‘Three Black Crows’ candle chart pattern is discovered. The chart shows ‘Three Black Crows’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability 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 | 0.93338 |
| Next Low | 0.92555 |
| 2nd Low | 0.92045 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Black Crows