EUR/CHF – 1H – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) goes from the ascending trendline downwards
A bearish descent downwards to the next support line at 0.93826 is certain.
Caution: A possible counter-trend in the direction of the resistance level at 0.94021 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Tweezers Top’ candlestick chart pattern is existing. The chart forms ‘Tweezers Top’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94398 |
| 2nd High | 0.94193 |
| Next High | 0.94021 |
| Current Price | 0.93921 |
| Next Low | 0.93826 |
| 2nd Low | 0.93716 |
| 3rd Low | 0.93650 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Tweezers Top