EUR/CHF – 1H – SELLThe combination Euro/Swiss Franc (EUR/CHF) moves from the ascending trendline down.
A bearish movement downwards to the next support at 0.93535 is expected.
Caution: A possible trend reversal in the direction of the resistance level at 0.93803 is within the realm of possibility.
Consider stop-loss settings accordingly.
Besides a ‘Support Level’ indicator layout is existing. The indicator is ‘Support Level’. this is usually a bearish signal. The pair is likely to go down.
Correction of the major bearish trend halted around the Fibonacci 1-Level.Continuation of the current descending trend is expected. Target of the current trend is 0.93674966 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the support line at 0.93803 is within the realm of possibility.
Consider stop-loss settings accordingly.
Besides a ‘Three Outside Down’ chart pattern is existing. The candles form ‘Three Outside Down’. which is a negative pattern signal. The currency pair is likely to fall. 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 | 0.9381 |
| Next High | 0.93803 |
| Current Price | 0.93726 |
| Next Low | 0.93535 |
| 2nd Low | 0.93224 |
| 3rd Low | 0.93179 |
0.93803 – 0.9381 – 0.93667 – 0.93535 – 0.93224 – 0.93179 — 54.457591875394 – 48.584507106206 — 76.064260774444 – 48.24880224682 – 59.711354787845 – 63.637536950755
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Outside Down – – –