EUR/CHF – 1H – SELL

The currency pair Euro/Swiss Franc (EUR/CHF) moves from the ascending trendline downwards

A descent down to the next support line at 0.93835 is expected.

Caution: A possible reversal of the trend in the direction of resistance at 0.94465 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Target of the current trend is 0.936075 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support level at 0.94465 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

And also a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative chart scenario. The pair is likely to go down.

And also a ‘On Neck’ candle chart pattern is found. The candles show ‘On Neck’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘On Neck’ going down is 56% (Bull Market) & 58% (Bear Market).

And also a ‘Double top chart pattern’ chart pattern is existing. The chart forms ‘Double top chart pattern’. this is a bearish chart scenario. The pair is likely to go down.

And also a ‘Resistance Level’ indicator layout is existing. The indicator is ‘Resistance Level’. which could be a negative signal. The currency pair could go down.

0.94465 – 0.94102 – 0.93259 – 0.93835 – 0.93054 – 0.92750

Download EUR/CHF Signal Image

Trading Signals: FOREX – EUR – EUR/CHF – CHF – On Neck