EUR/CHF – 30M – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) goes from the bullish trendline down.
A bearish movement downwards to the next support line at 0.92045 is certain.
Caution: A possible change in the direction of the resistance zone at 0.93018 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three Outside Down’ chart pattern is found. The chart forms ‘Three Outside Down’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93222 |
| 2nd High | 0.93027 |
| Next High | 0.93018 |
| Current Price | 0.92657 |
| Next Low | 0.92045 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Outside Down