EUR/CHF – 30M – BUYThe combination Euro/Swiss Franc (EUR/CHF) moves from the bullish trendline downwards
The bearish trend down to the next support line at 0.93540 is considered certain.
Caution: A possible change in the direction of the resistance line at 0.93846 could happen.
Consider stop-loss settings accordingly.
In addition a ‘Three Outside Down’ chart pattern is found. The chart forms ‘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 success rate of a ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94278 |
| 2nd High | 0.94053 |
| Next High | 0.93846 |
| Current Price | 0.93780 |
| Next Low | 0.93540 |
| 2nd Low | 0.93489 |
| 3rd Low | 0.93423 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Outside Down