The combination Euro/Swiss Franc (EUR/CHF) jumps from the descending trendline down.
A continuation of the downward movement downwards to the next support line at 0.93412 will persist.
Caution: A possible trend reversal in the direction of the resistance line at 0.93806 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three Black Crows’ candlestick chart pattern is existing. The chart forms ‘Three Black Crows’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
Support & Resistance | Price Range* |
---|---|
3rd High | 0.94277 |
2nd High | 0.94014 |
Next High | 0.93806 |
Current Price | 0.93613 |
Next Low | 0.93412 |
2nd Low | 0.93325 |
3rd Low | 0.93072 |
0.93806 – 0.94014 – 0.94277 – 0.93412 – 0.93504 – 0.93325
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Black Crows –