EUR/CHF – 30M – SELLThe currency pair Euro/Swiss Franc (EUR/CHF) jumps from the descending trendline down.
A continuation of the downtrend down to the next support at 0.93179 is expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.93380 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Current target is 0.93179 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support level at 0.93380 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Three Outside Down’ candle chart pattern is existing. The chart forms ‘Three Outside Down’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93865 |
| 2nd High | 0.93589 |
| Next High | 0.93380 |
| Current Price | 0.93286 |
| Next Low | 0.93179 |
| 2nd Low | 0.93138 |
| 3rd Low | 0.93059 |
0.93380 – 0.93375 – 0.93589 – 0.93179 – 0.93504 – 0.93567 — 41.668705917497 – 40.909021296942 — 49.808375722946 – 40.454788284208 – 40.295294946539 – 45.582576514219
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Outside Down – – –