EUR/CHF – 30M – SELLThe pair Euro/Swiss Franc (EUR/CHF) moves from the bullish trendline down.
A bearish descent downwards to the next support line at 0.92696 is likely expected.
Caution: A possible trend reversal in the direction of the resistance level at 0.93263 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 0.92696 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support zone at 0.93263 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three Black Crows’ candle chart pattern is detected. The candles form ‘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 likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93407 |
| 2nd High | 0.93385 |
| Next High | 0.93263 |
| Current Price | 0.92840 |
| Next Low | 0.92696 |
| 2nd Low | 0.92045 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Black Crows