The combination Euro/Swiss Franc (EUR/CHF) goes from the descending trendline downwards
A continuation of the downtrend down to the next support at 0.92555 is likely expected.
Caution: A possible change in the direction of the resistance zone at 0.93021 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Three Black Crows’ candle pattern is found. The candles show ‘Three Black Crows’. which is a bearish 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 Black Crows’ going down is 82%.
Support & Resistance | Price Range* |
---|---|
3rd High | 0.93262 |
2nd High | 0.93222 |
Next High | 0.93021 |
Current Price | 0.92977 |
Next Low | 0.92555 |
2nd Low | 0.92045 |
3rd Low |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Black Crows