EUR/CHF – 1H – BUYThe combination Euro/Swiss Franc (EUR/CHF) jumps from the descending trendline downwards
A continuation of the downtrend downwards to the next support line at 0.93057 is certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 0.93666 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Outside Down’ candle pattern is existing. The candles show ‘Three Outside Down’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94176 |
| 2nd High | 0.93879 |
| Next High | 0.93666 |
| Current Price | 0.93548 |
| Next Low | 0.93057 |
| 2nd Low | 0.92859 |
| 3rd Low | 0.92709 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Outside Down