EUR/CHF – 30M – SELLThe pair Euro/Swiss Franc (EUR/CHF) goes from the descending trendline down.
A continuation of the downward movement downwards to the next support at 0.93837 will continue.
Caution: A possible change in the direction of the resistance level at 0.93994 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Current target is 0.93828572 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support level at 0.93994 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Tweezers Top’ chart pattern is discovered. The candles form ‘Tweezers Top’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94042 |
| 2nd High | 0.94021 |
| Next High | 0.93994 |
| Current Price | 0.93936 |
| Next Low | 0.93837 |
| 2nd Low | 0.93826 |
| 3rd Low | 0.93716 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Tweezers Top