EUR/CHF – 4H – BUYThe pair Euro/Swiss Franc (EUR/CHF) breaks through the bearish trendline up.
An ascent upwards to the next resistance line at 0.94176 will persist.
Caution: A possible reversal of the trend in the direction of the support level at 0.92555 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend will persist. Target of the current trend is 0.93673084 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 0.94176 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Three Outside Up’ chart pattern is existing. The candles show ‘Three Outside Up’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94608 |
| 2nd High | 0.94423 |
| Next High | 0.94176 |
| Current Price | 0.93575 |
| Next Low | 0.92555 |
| 2nd Low | 0.92045 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Outside Up