EUR/CHF – 1H – BUYThe pair Euro/Swiss Franc (EUR/CHF) jumps from the ascending trendline down.
A descent downwards to the next support line at 0.92555 will continue.
Caution: A possible counter-trend in the direction of the resistance level at 0.93032 could occur.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Three Outside Down’ candle pattern is existing. The candles show ‘Three Outside Down’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93262 |
| 2nd High | 0.93222 |
| Next High | 0.93032 |
| Current Price | 0.92754 |
| Next Low | 0.92555 |
| 2nd Low | 0.92045 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Outside Down