EUR/CHF – 30M – SELLThe combination Euro/Swiss Franc (EUR/CHF) goes from the descending trendline down.
A continuation of the downward movement down to the next support line at 0.92701 is certain.
Caution: A possible trend reversal in the direction of the resistance line at 0.93021 should always be considered.
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 is certain. Current target is 0.92688548 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support level at 0.93021 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Three Black Crows’ candlestick pattern is found. The candles show ‘Three Black Crows’. which is a bearish 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’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93222 |
| 2nd High | 0.93027 |
| Next High | 0.93021 |
| Current Price | 0.92743 |
| Next Low | 0.92701 |
| 2nd Low | 0.92584 |
| 3rd Low | 0.92045 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Black Crows