EUR/CHF – 30M – SELLCorrection of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 0.92657078 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of support at 0.93032 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three Black Crows’ candle pattern is detected. The candles form ‘Three Black Crows’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93262 |
| 2nd High | 0.93222 |
| Next High | 0.93032 |
| Current Price | 0.92761 |
| Next Low | 0.92555 |
| 2nd Low | 0.92045 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Black Crows