EUR/CHF – 1H – BUYThe pair Euro/Swiss Franc (EUR/CHF) jumps from the bullish trendline downwards
A descending movement downwards to the next support line at 0.93506 is expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.94423 should always be considered.
Consider stop-loss settings accordingly.
Also there is a ‘Three Outside Down’ chart pattern is detected. The chart shows ‘Three Outside Down’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94787 |
| 2nd High | 0.94608 |
| Next High | 0.94423 |
| Current Price | 0.94053 |
| Next Low | 0.93506 |
| 2nd Low | 0.92709 |
| 3rd Low | 0.92555 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Outside Down