EUR/CHF – 1H – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) jumps from the ascending trendline down.
A bearish descent down to the next support at 0.94020 is expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.94398 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Bearish SBS White Lines’ candlestick chart pattern is existing. The candles form ‘Bearish SBS White Lines’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94423 |
| 2nd High | 0.94407 |
| Next High | 0.94398 |
| Current Price | 0.94102 |
| Next Low | 0.94020 |
| 2nd Low | 0.93814 |
| 3rd Low | 0.93650 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bearish SBS White Lines