EUR/CHF – 30M – SELLCorrection of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Current target is 0.939765 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support zone at 0.94465 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Three Outside Down’ candlestick chart pattern is existing. The candles show ‘Three Outside Down’. which is a negative chart scenario. The currency 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 | 0.95791 |
| 2nd High | 0.95001 |
| Next High | 0.94465 |
| Current Price | 0.94142 |
| Next Low | 0.94099 |
| 2nd Low | 0.93835 |
| 3rd Low | 0.93488 |
0.94465 – 0.94143 – 0.94062 – 0.94099 – 0.93835 – 0.93858
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Outside Down