EUR/CHF – 1H – SELLThe combination Euro/Swiss Franc (EUR/CHF) moves from the ascending trendline down.
A descent downwards to the next support line at 0.93629 will persist.
Caution: A possible trend reversal in the direction of the resistance zone at 0.94288 is also possible.
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 will persist. Target of the current trend is 0.938255 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of support at 0.94288 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Two Crows’ candle pattern is found. The candles show ‘Two Crows’. 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 ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94465 |
| 2nd High | 0.94369 |
| Next High | 0.94288 |
| Current Price | 0.94018 |
| Next Low | 0.93629 |
| 2nd Low | 0.93603 |
| 3rd Low | 0.93363 |
0.94288 – 0.94035 – 0.93880 – 0.93629 – 0.93603 – 0.93608