EUR/CHF – 1H – SELLThe pair Euro/Swiss Franc (EUR/CHF) jumps from the ascending trendline down.
A bearish descent downwards to the next support at 0.93483 will continue.
Caution: A possible counter-trend in the direction of the resistance level at 0.94278 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Bearish Harami’ candlestick pattern is detected. The chart forms ‘Bearish Harami’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94423 |
| 2nd High | 0.94407 |
| Next High | 0.94278 |
| Current Price | 0.93702 |
| Next Low | 0.93483 |
| 2nd Low | 0.93057 |
| 3rd Low | 0.92859 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Harami