EUR/CHF – 30M – SELLThe pair Euro/Swiss Franc (EUR/CHF) moves from the bullish trendline down.
A descending movement downwards to the next support level at 0.93949 will continue.
Caution: A possible change in the direction of resistance at 0.94407 is within the realm of possibility.
Consider stop-loss settings accordingly.
Also there is a ‘Bearish Belt Hold’ candlestick chart pattern is detected. The chart shows ‘Bearish Belt Hold’. 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 ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.94423 |
| Next High | 0.94407 |
| Current Price | 0.94139 |
| Next Low | 0.93949 |
| 2nd Low | 0.93906 |
| 3rd Low | 0.93578 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish Belt Hold