EUR/CHF – 30M – BUYThe pair Euro/Swiss Franc (EUR/CHF) jumps from the ascending trendline downwards
A bearish trend downwards to the next support line at 0.93538 will persist.
Caution: A possible reversal of the trend in the direction of resistance at 0.93666 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend will persist. Target of the current trend is 0.93599684 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of support at 0.93666 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three Outside Down’ candle pattern is found. The chart shows ‘Three Outside Down’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94176 |
| 2nd High | 0.93879 |
| Next High | 0.93666 |
| Current Price | 0.93651 |
| Next Low | 0.93538 |
| 2nd Low | 0.93483 |
| 3rd Low | 0.93410 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Outside Down